Sharp Corp. may lose more money than it forecast this year, analysts predict, increasing pressure on the struggling electronics maker to raise funds and complete a stake sale to Foxconn Technology Group.
The company likely will report a net loss of ¥295 billion for the year ending March 31, according to the average estimates of seven analysts compiled by Bloomberg. Sharp last month forecast a ¥250 billion net loss, eight times greater than originally predicted, because of its unprofitable TV and display units.
Shipments of smartphone panels were delayed after a defect was found during testing, the Osaka-based company said in August. The company also is experiencing lower than expected operation rates at a plant making displays for tablet computers, prompting analysts at Goldman Sachs Group Inc. and Deutsche Bank AG to lower their earnings estimates as Sharp prepares a revival plan for lenders.