TOKYO--Sharp Corp. (6753.TO) reported another fiscal second-quarter loss on Tuesday, as its smartphone display-panel business continued to struggle.
For the quarter ended September, the Osaka-based electronics maker narrowed its loss to 17.9 billion yen ($170.8 million) from Y49.6 billion a year earlier.
Taiwanese iPhone assembler Foxconn Technology Group, formally known as Hon Hai Precision Industry Co. (2317.TW), bought Sharp in August after the Japanese company had been battered by declining prices for smartphone screens. Foxconn appointed Tai Jeng-wu as chief executive, tasking him with a turnaround.
Sharp's operating profit for the period fell to Y2.5 billion from Y3.5 billion the previous year.
For the fiscal year ending March, Sharp projected a net loss of Y41.8 billion and an operating profit of Y25.7 billion on revenues of Y2.0 trillion ($19.08 billion).