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Fujitsu's sales falls 2% due to IC, LCD slump

Posted: 02 Feb 2005 ?? ?Print Version ?Bookmark and Share

Keywords:plasma display panels? pdp? lcd? ic?

Following a slump within its chip and LCD businesses, Japan's Fujitsu Ltd on Friday (Jan. 28) reported consolidated net sales of 1,043.6 billion yen ($10.133 billion) for the third quarter of fiscal 2004, a decline of 2.3 percent compared to the same period in the previous fiscal year.

Fujitsu (Tokyo) recorded a third-quarter consolidated net loss of 9.5 billion yen ($93 million). Consolidated operating income for the third quarter was 4.8 billion yen ($47 million), a decline of 53 percent compared to the third quarter of fiscal 2003.

"IT investment in Japan remained generally weak, and growth in overseas sales of IT outsourcing services, UNIX servers, personal computers, optical transmission systems, and hard disk drives was offset by sharply lower sales of semiconductors, plasma display panels (PDPs), and liquid crystal displays (LCDs) arising from deteriorating conditions in the digital home electronics market," according to Fujitsu.

Third-quarter net sales in the electronic devices segment declined 11.0 percent compared to the prior year, or 9.4 percent on a continuing-operations basis, to 170.1 billion yen ($1.652 billion).

"The decline reflected the sharp deterioration in the markets for PDPs, LCDs and certain semiconductor products, including 'slacker' demand for flash memory," according to Fujitsu.

The outlook for Fujitsu looks cloudy. Due to falling orders for electronic devices and flat-panel displays, Fujitsu is lowering its full-year consolidated net sales and net income.

- Mark LaPedus

Silicon Strategies

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