TOKYO (Reuters) – Japan Display Inc reported on Wednesday a fourth consecutive quarterly internet loss, as its sluggish adoption of natural light-emitting diode (OLED) generation ended in fewer orders from its biggest consumer, Apple Inc.
The liquid crystal show (LCD) maker posted a internet loss of 32.6 billion yen ($304 million) for the October-December quarter, as opposed to a internet benefit of seven.three billion yen within the year-ago quarter.
That in comparison with a median 30.32 billion yen loss forecast of 4 analysts, consistent with Thomson Reuters I/B/E/S.
The corporate, money-losing for the previous 3 years, has been incomes part its income promoting LCDs to Apple.
But for the high-end iPhone X, Apple shifted to OLED panels which can be simplest mass produced for smartphones via Samsung Electronics Co Ltd.
Aiming to counter declining gross sales with price cuts, Japan Display plans to streamline manufacturing traces and cut back 30 p.c of its body of workers, leading to a different loss of 170 billion yen for the present 12 months.
The corporate may be making an allowance for tapping new traders for capital to catch up in OLED panels, which it plans to start out mass-producing for smartphones simplest in 2019.
Reporting via Makiko Yamazaki; Editing via Stephen Coates