Sharp Reports 4Q Loss Feb 10, 2009

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Sharp Corp. reported its first quarterly loss in 4Q 2008 and warned that it would post its first ever annual operating loss. It also said it planned to cut 1500 non-regular workers and reduce costs by 200 billion yen (approx. US$2.20 billion). Sharp's operating loss was 15.86 billion yen ($164 million) in October-December against a 51.99 billion yen profit ($568 million) a year earlier. Sales fell about 20% to 735 billion yen ($8.1 billion).

Sharp also cut its LCD TV sales forecast for the current business year by 9.1% to 10 million units, while lowering its mobile phone sales target by 8.5% to 10.7 million units.

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