Print this page
Email this to a friend
Discuss this article (0 Comments)
Mobile
-
Network Manager- Utilities
Industry: IT & Telecoms
Location: Dubai, UAE -
Creative Director
Industry: IT & Telecoms
Location: Dubai, UAE
Toshiba quarterly profits down 95%
by Mark Sutton on Wednesday, 30 April 2008
Toshiba saw its quarterly profits drop by 95% for the January-March period, as the company took a massive hit from the failure of HD DVD and soft prices in the flash memory market.
The company posted profit of 1.25 billion yen, ($12m), down from 26.17 billion yen from the same quarter last year.
"Our net profit sharply fell due to the end of HD DVD business," said spokeswoman Hiroko Mochida.
Folding the company's HD DVD business cost around 48 billion yen ($461m) to close assembly lines and deal with inventory.
For the financial year ending 31st March, the company saw net profit decline by 7% to 127.4 billion yen.
TOP IN MIDDLE EAST TECHNOLOGY
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST TECHNOLOGY
LATEST MIDDLE EAST BUSINESS NEWS
USER COMMENTS (0 COMMENTS)
CLICK HERE TO POST A COMMENT
RELATED STORIES
Toshiba
| 3 stories- Asbis vows to fix Dell and Toshiba inventory issues
26 Aug '08 | News - Think small - choosing the right vendor
24 Aug '08 | Comment - Free to roam
22 Jun '08 | Features
