TOKYO - Cash-strapped Japan Display Inc reported on Friday its tenth consecutive quarterly loss, hit by weak iPhone sales at its biggest client Apple Inc, increasing the urgency for the firm to close a proposed bailout with a Chinese group.
Japan Display, money-losing for the past five years, declined to give a full-year earnings outlook, but has previously warned it cannot guarantee a return to profit this year as demand for smartphone screens stays weak. The Japanese company plans to hold a shareholders’ meeting on Sept. 27 to formalize the bailout plan.
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