Sharp reports net profit down 35 per cent on slow sales

Tokyo - Sharp Corp on Thursday reported a 35.3-per-cent fall in its net profit for the April-September period from a year earlier due to slow mobile-phone sales and price reduction in liquid-crystal-display televisions.

The Japanese home electronics company logged a net profit of 28.01 billion yen (287.73 million dollars) and an operating profit of 50.76 billion yen for the first six months of the business year that runs through March 31.

Operating profit fell 35.8 per cent year-on-year.

Sharp reported sales of 1.56 trillion yen, which was 4.8 per cent lower than the previous year's figure.

The company recently cut its earnings forecast for the full year to 60 billion yen amid the global financial crisis and slowdown of the world economy.

Sharp did not release figures for the second quarter. (dpa)

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