Japan Display Inc. announced financial results for the nine months period ended December 31, 2017. Net sales were ¥565,588 million ($5.285 billion), a 12.2% decline compared to ¥644,191 million ($6.020 billion) reported in same period of previous year. Net loss for the period was ¥100,611 million ($940.290 million), compared to net loss of ¥9,402 million ($87.869 million) in 2016.
The company said “In the first nine months of FY 2017 competition in the small-medium display industry intensified because of expanded production capacity among overseas display makers and higher penetration of OLED smartphones, which resulted in increased pricing pressure. In addition, small-medium display market underwent changes that included a slowdown in smartphone shipments in the largest market, China.”
