NEC posts Q2 loss on smartphone exit

Wednesday 30 October 2013 | 10:19 CET | News
NEC reported a net loss of JPY 4.7 billion for its fiscal second quarter to September, versus a profit of JPY 25.9 billion a year earlier. The loss was due mainly to one-time losses of JPY 11.0 billion for its exit from the smartphone business, as well as other restructuring charges and one-time gains in the year-earlier period on disposals. Net sales were down 9.0 percent year-on-year to JPY 743.0 billion, and operating profit fell 33.1 percent to JPY 22.2 billion. The drop in sales was led by a 5.4 percent fall at the Systems Platform division to JPY 193.1 billion, and the Telecom Carrier

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Categories: General
Companies: NEC
Countries: World
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