Sony, Sharp in turnaround battle, Panasonic battered
Published on Nov 1, 2012 3:51 PM
TOKYO (REUTERS) - Struggling Japanese TV maker Sharp warned it might not be able to survive on its own, as it almost doubled its full-year net loss forecast to US$5.6 billion (S$6.8 billion), adding it was considering alliances with other companies.
"Our corporate group has booked massive second-quarter net and operating losses... and now see a serious negative operating cash flow. This raises serious doubts about (our ability) to continue as a going concern," it said in a statement on Thursday.
Bigger Japanese rival Sony, which blazed a trail in the early 1980s with its Walkman portable music players, made a small operating profit in July-September and kept its forecast for a full-year profit of US$1.63 billion.
The maker of Bravia TVs, Vaio laptops and PlayStation game consoles, however, expects to sell fewer of its hand-held PSP and Vita consoles this year - 10 million - than it previously estimated. It also cut its forecasts for sales of its TV sets - to 14.5 million - and compact digital cameras - to 16 million - but kept its PlayStation home console sales estimate at 16 million.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!