Weak LCD demand from smartphone manufacturers, JDI loses money for six consecutive quarters

by:Kimeery     2021-05-28

Japan Display Inc. (JDI), one of Apple’s supply chains, announced its latest financial report after the close on Monday. It showed that the company was in deficit for six consecutive quarters. Due to weak demand from smartphone manufacturers, the company also cut its annual financial results. Measurement.

In the second quarter of the fiscal year (July-September) a loss of 4.7 billion yen, although the deficit fell by 62%, the loss of 12.4 billion yen in the same period last year, but still significantly higher than the six analysts The average estimated loss is 2.3 billion yen.

After the quarterly financial report was announced, the company significantly revised down the annual revenue growth rate to 5-15%. The last estimated growth rate was between 10-20%, and the annual operating profit margin is expected to be revised down to 1 -2%, previously estimated to be 2-3%.

JDI specializes in the production of liquid crystal displays (LCD), and its recent losses are partly attributable to the delay in adopting OLED screens, which makes it lose Apple’s orders.

At present, some of the company's smart phone manufacturer customers have also begun to use LCD for Samsung screens on high-end phones. JDI's stock price closed flat at 105 yen on Monday, and has fallen about 54% this year. The 103 yen touched on October 26 was the lowest since the company's reorganization and listing on March 18, 2014.

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