February 14, 2019 / 6:09 AM / 6 months ago

Apple supplier Japan Display forecasts 5th straight year of net losses

TOKYO, Feb 14 (Reuters) - Japan Display Inc said on Thursday it expects to post its fifth straight year of net losses, with a late shift to organic light-emitting diode (OLED) screens and slowing iPhone sales costing it orders from Apple Inc, its biggest client.

The liquid crystal display (LCD) maker for smartphones, which gets more than half of its revenue from Apple, reversed its profit forecast for the year ending March after reporting a net loss of 1.3 billion yen for the October-December quarter.

The quarterly loss compares with the 17 billion yen average profit estimate of three analysts, according to Refinitiv data. For the full year, nine analysts had on average estimated a profit of 8.1 billion yen, the data showed. (Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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