August 9, 2019 / 6:14 AM / 11 days ago

Apple supplier Japan Display posts 10th straight quarter of net loss

TOKYO, Aug 9 (Reuters) - Cash-strapped Japan Display Inc reported on Friday its tenth consecutive quarterly loss, hit by weak iPhone sales at its biggest client Apple Inc .

The liquid crystal display (LCD) maker for smartphones, which gets more than half of its revenue from Apple, posted a net loss of 83.27 billion yen ($786.53 million) in the April-June quarter, far wider than the 1.77 billion loss a year earlier.

Japan Display, money-losing for the past five years, declined to give a full-year earnings outlook, but has previously warned it cannot guarantee a return to profit this year as demand for smartphone screens stays weak.

Apple said last week sales of the smartphone fell 12% globally to $25.99 billion in the quarter to June, after a 17% drop in the prior quarter. ($1 = 105.8700 yen) (Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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