Hitachi posts first-half loss


Hitachi posts first-half loss

Antony Savvas

Hitachi has made a £57m loss for the first half of the year, on lower display sales and falling prices in servers and PCs.

The company saw group sales creep up around 2% to £23bn, but net profits slumped from £208m in the same period last year to this six-month loss.

Electronic device sales fell 16%, while hardware revenues fell as a result of the sale of Hitachi’s Printing Solutions business to Ricoh and lower prices in servers and PCs, said Hitachi.

On the plus side, Hitachi was able to report higher sales in hard disk drives and disk array storage sub-systems.

For the full year, Hitachi said it expected to make a total £107m profit, which would be down over 60% from last year.

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