Sharp Corporation today warned that it expects annual net profit to drop more than 40%, reflecting the rapidly worsening business climate facing Japan's consumer electronics giants.
The company said it now anticipates net earnings of 60 billion yen ($583m) in the year to March 2009, down 41% from the previous year's figure of 101.92 billion.
In July it had predicted net profit of 105 billion yen.
'The severe business environment should continue from the third quarter onward, especially for mobile phones and relevant electronics components,' a company statement said.
