Japanese Electronics Makers Cut Full-Year Estimates

Economy

Tokyo, Feb. 4 (Jiji Press)--Four major Japanese electronics makers cut their earnings estimates for the year ending next month due chiefly to a slowing Chinese economy amid a trade dispute between Washington and Beijing.

The four are Sony Corp. <6758>, Panasonic Corp. <6752>, Mitsubishi Electric Corp. <6503> and Sharp Corp. <6753>.

Sluggish demand for Apple Inc.'s iPhone smartphone dragged down sales of Sony's camera chips as well as Sharp's liquid crystal display panels.

Panasonic's smartphone manufacturing equipment fared poorly, while Mitsubishi saw industrial machinery sales fall in China.

Hitachi Ltd. <6501> lowered its sales projection for automotive equipment in China.

[Copyright The Jiji Press, Ltd.]

Jiji Press