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Toshiba Reveals Financial Results

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You may have noticed the trend among the bigger players in the consumer electronics industry - Sony, Philips and LG, for example - posting losses and Toshiba isn't getting left out - it's April to December financial reports show pretty disappointing performance.

Sales were down nearly ¥600 billion on the same period last year, at ¥4.98 trillion (~£ 38.7 billion) with net profit falling by ¥285.8 billion resulting in a ¥159.6 billion (~£1.24 billion) net loss. Pretty much all of the loss came from Toshiba's electronic devices business, which includes LCD sales, due to a slump in sales.

Toshiba has now revised its yearly forecast to reflect the current climate. Yearly net income, previously predicted at ¥70 billion is now much worsened estimate of a ¥280 million loss - versus ¥127.4 billion profit last financial year.

That investment in HD DVD is no doubt souring the milk of many a Toshiba executive more than ever now.

Link:
Toshiba.

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