NEC Posts Increased First-Half Loss
NEC Corp., losing share to Sharp Corp. and Toshiba Corp. in Japan’s mobile-phone market, said its first- half loss widened fivefold because of a slump in sales. Shares of NEC have slid 35 percent since this year’s peak in April as Toshiba overtook the company in handset sales in the fiscal first-half. NEC today cut its mobile phone shipment target by 33 percent and said the business will post a 48 billion yen operating loss this fiscal year, instead of a previously forecast for a 15 billion yen loss.