smartphone screen maker japan display cutting 30 of workforce
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Smartphone screen maker Japan Display cutting 30% of workforce

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSmartphone screen maker Japan Display cutting 30% of workforce

Nobuhiro Higashiiriki, chairman and CEO of Japan Display
Japan - AFP

Japan Display said Wednesday it would slash 3,700 jobs, or about 30 percent of its workforce, as the struggling smartphone screen maker's chief executive warned it was the "last chance" for a turnaround.

Citing intense competition, the Tokyo-based company said it would cut 3,500 positions at overseas assembly plants and another 240 jobs from its payroll in Japan.

The job cuts, which represent nearly 30 percent of the 13,100-strong workforce, are expected to save 50 billion yen ($455 million) annually, it said, adding that total restructuring costs would be about 170 billion yen.

Japan Display, born out of the 2012 merger of the liquid crystal display divisions of Hitachi, Toshiba and Sony, has been losing money for years as it lagged behind its foreign rivals while the industry shifted to new technologies.

"We find ourselves in a very regrettable situation," CEO Nobuhiro Higashiiriki told a press briefing.

"Our biggest task is to build a management system that generates profits by keeping in mind that this is our last chance to restructure," he added.

Earlier Wednesday the company said it must cut the cost of surplus production capacity.

"Therefore, JDI has determined that it must overhaul its manufacturing system to bring it in line with a changing market and reduce the level of fixed costs," it said in a statement.

Wednesday's jobs announcement came as the firm logged a net loss of 31.5 billion yen in the April-June period, nearly three times higher than its shortfall in the same quarter a year earlier.

The group also expects to book a full-year operating loss due to heavier development costs to cope with growing demand for light-emitting OLED displays.

The company was slow to enter the market for OLED screens, which are more flexible than LCD screens and boast a sharper image.

"We have decided to make a strategic change as we would have no future in the smartphone business without OLED," the firm's CEO said.

The group is testing a new OLED panel but mass production will not begin until 2019, he added.

South Korea's Samsung is leading in OLED mass production, with another South Korean group, LG, trying to catch up.

OLED screens are increasingly becoming the preferred choice in high-end smartphones and Apple is rumoured to be planning a switch to OLED technology for its new iPhone, which is being launched this year.

Japan Display, which has factories in Japan and elsewhere in Asia, supplies screens to Apple and China's Huawei.

Public-private Innovation Network Corp of Japan is its top shareholder with a stake of more than one-third.

source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

smartphone screen maker japan display cutting 30 of workforce smartphone screen maker japan display cutting 30 of workforce

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 21:17 2017 Friday ,08 December

Yemeni legitimacy troops managed to achieve advance

GMT 22:16 2017 Saturday ,21 October

Tillerson returns to Saudi Arabia as Qatar row simmers

GMT 06:45 2011 Tuesday ,05 July

Oldest engraving for pharaoh in Egypt

GMT 07:58 2013 Saturday ,19 January

Civilians in Mali continue to suffer

GMT 06:42 2015 Friday ,03 July

Baheya Band to perform at Photopia

GMT 20:39 2011 Monday ,25 July

\"We need to resolve crisis\"

GMT 10:01 2014 Friday ,06 June

February 18 - March 19

GMT 07:48 2018 Sunday ,07 January

Globes newcomer Timothee Chalamet shoots

GMT 12:06 2017 Friday ,04 August

Fahmy happy for participation in 'Highest Price'

GMT 11:41 2017 Thursday ,21 September

Global trade 'rebounds strongly' in first half of 2017

GMT 10:08 2011 Friday ,01 April

Crude oil prices rally on Middle East tensions

GMT 11:06 2017 Saturday ,22 July

16 Afghan police killed in US strike

GMT 18:37 2017 Saturday ,28 January

Yusaku Miyazato fights to maintain Myanmar Open lead

GMT 07:15 2017 Friday ,15 September

Peres's dream of peace saluted year after death

GMT 19:38 2016 Thursday ,15 December

Mistry vows to keep up his fight with Ratan Tata
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle