NEC Corp. announced on Tuesday that it’s expecting to ship 5.5 million mobile phones in the year to March 31st 2007, down 8 percent from its previous estimate of 6 million phones. The company also said it now expects to post a loss of less than 40 billion yen ($333 million) in the cellphone business in fiscal2006/07, an improvement over its previous estimate of a loss of 50 billion yen.
Also, according to this report via Yahoo News, NEC’s over-all net profit dropped nearly 78 percent in the October-December quarter, hurt by sluggish sales of mobile phones and personal computers. NEC posted a group profit of 2.6 billion yen ($21.67 million) for the fiscal third quarter, down from 11.8 billion yen the same period a year earlier. For the full fiscal year through March 31st 2007, NEC kept its earlier projections of a group net profit of 18 billion yen ($150 million) on sales of 4.68 trillion yen ($39.00 billion).