Sharp reverses annual profit forecast to $256m loss on TV woes

Tokyo: Japanese consumer electronics giant Sharp on Tuesday reversed its fiscal year profit forecast, warning that it would instead lose about $256 million (Dh940 million) as its battered television business continues to bleed money. The maker of Aquos brand electronics said it now expects to book a 30 billion yen shortfall in the year to March, after earlier predicting a profit of the same amount. Osaka-based Sharp — which lost 7.2 billion yen in the nine months to December — had warned earlier that its full-year earnings would fall below previous forecasts owing to a “deterioration” in sales at home and fierce competition in the liquid crystal display business.