Japan Display cuts 30% of staff
The company Japan Display announced the formation of a strategic Alliance with E Ink, at the same time published a report for the first half of the financial year that Japan Display, like other Japanese companies, began April 1, 2016 and expire on 31 March 2017.
For the first half of manufacturer displays received income 371,0 billion yen. This is 27% less than in the same period of the previous fiscal year, when income Japan Display made up 507,9 billion yen. Half-year ended operating losses in the amount of 2.2 billion yen. A year ago, the manufacturer has received an operating profit of 10.6 billion yen.
As a measure to improve profitability, Japan Display reported a decrease in 30% of jobs, which corresponds to the dismissal of 4700 employees.
However, the manufacturer notes that its financial position is improving, thanks to the strong demand for displays from Chinese manufacturers of smartphones. Earlier this year, the company Japan Display began to experience difficulties due to the fact that Apple cut the purchase of panels for smartphones iPhone. As the main supplier of screens for smartphones Apple iPhone, the company Japan Display gets more than half of the income due to Apple orders.
Source: Japan Display, Reuters