Sharp have posted a gigantic loss of 117.1 billion yen ($1.4 billion) for the financial year ending March 2012.
Citing restructuring costs and inventory losses as the key reasons for the dramatic figures, Sharp have also stated that they expect to lose a further 18.7% of its projected sales from their TV business in the coming year.
As a result, some of the company’s production lines that once focussed on large-screen LCD production will now be converted to cater for greater mobile display production.
“In order to reinforce mobile LCD business toward an optimal LCD production framework, the Company is converting its production lines to produce mobile LCDs at the Kameyama No.2 Plant, where it used to focus on production of large-size LCDs for TVs,” reads the company’s press statement.
It’s the end of a difficult year for Sharp, which saw the company sell part of its LCD manufacturing business to Hon Hai, Sony pull out of a proposed joint venture (and all future business with the company, and an overall drop of 86% in profits.