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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Toshiba posts quarterly loss on lower chip prices By TOMOKO A. HOSAKA,Associated Press Writer AP - 1 hour 35 minutes ago TOKYO - Toshiba Corp. said Wednesday it posted a loss in the most recent quarter, tumbling into the red as flash memory prices continued to fall and demand for home appliances waned. The Tokyo-based electronics giant reported a net loss of 26.85 billion yen ($272.8 million) in the July-September quarter, a sharp downturn from the 25.0 billion yen ($254 million) profit it booked during the same period last year. Sales declined 7 percent to 1.88 trillion yen ($19.1 billion), while operating profit plummeted 99 percent to 707 million yen ($7.3 million). "The global economy entered into a recessionary phase, caused by factors that included financial crisis from the subprime mortgage crisis in the U.S. and rising energy and raw materials prices," the company said in its earnings release. The quarter's biggest casualty was the electronic devices segment, which wilted under Toshiba's struggling semiconductor business. The company, Japan's largest chipmaker, blamed an appreciating yen and steeper-than-expected price declines for NAND flash memory, widely used in consumer electronics. The segment alone booked an operating loss of 29.3 billion yen ($302.8 million), down 66.6 billion yen from the previous year, Toshiba said. Its home appliance segment also lost money, as slumping personal consumption undermined sales in the so-called white goods business _ washing machines and other household appliances _ and lower housing construction hit its lighting division. Toshiba's withdrawal from the HD DVD business contributed to a 15.5 billion yen ($160.2 million) operating profit for the digital products segment, despite slower sales of office equipment and mobile phones. For the April-September fiscal half-year, Toshiba posted a 38.4 billion yen ($390.1 million) net loss on revenue of 3.5 trillion yen ($35.6 billion). It was the first half-year loss for the company since 2003. In September, Toshiba lowered its net profit forecast to 70 billion yen ($711.2 million) for the fiscal year through March 2009, down sharply from 130 billion yen. Toshiba's financial results are based on U.S. accounting standards. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Newmont 3Q profits fall 51 percent on higher costsAP - 57 minutes ago European stocks up after Dow surgeAP - 1 hour 9 minutes ago China investigates tainted eggs in new food scareAP - 1 hour 11 minutes ago Oil bounces off 17-month lowAP - 1 hour 12 minutes ago Qwest 3Q profit down; will cut 1,200 jobsAP - 1 hour 13 minutes ago Most Popular – Business Viewed When men see red, they see hot: study World's fattest man weds friend's widow Desperate pleas end in despair as starlet's nephew found dead Markets rebound ahead of key US meeting Australian central bank intervenes as dollar falls again View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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