TOKYO (Reuters) - Screen maker Japan Display Inc 6740.T on Monday posted a sixth straight quarterly operating loss and lowered its outlook for the full year on weaker demand from smartphone makers.
The company, a supplier to Apple Inc AAPL.O, posted a loss of 4.7 billion yen in the second quarter. While that was narrower than the 12.4 billion loss a year earlier, it was worse than an average estimate of a 2.3 billion yen loss from six analysts surveyed by Refinitiv.
The company said it expects full-year sales to grow 5-15 percent, versus a previous forecast for a 10-20 percent growth, and for an annual operating margin of 1-2 percent rather than an earlier projection of 2-3 percent.
Japan Display specializes in liquid crystal display (LCD) screens. Its recent string of losses partly stem from its delayed adoption of organic light-emitting diode (OLED) screens that has cost the display maker orders from Apple.
Some of its Chinese smartphone maker clients have also started using OLED screens for their high-end models.
Reporting by Makiko Yamazaki; Editing by Himani Sarkar
Our Standards: The Thomson Reuters Trust Principles.