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Apple supplier Japan Display forecasts 5th straight year of losses

TOKYO: Japan Display Inc said it expects to post its fifth straight year of net losses, with a late shift to organic light-emitting diode (OLED) screens and slowing iPhone sales costing it orders from Apple Inc, its biggest client.3 billion yen for the October-December quarter.
The quarterly loss compares with the 17 billion yen average profit estimate of three analysts, according to Refinitiv data. For the full year, nine analysts had on average estimated a profit of 8.1 billion yen, the data showed.The losses are making the company desperate for fresh cash, as previous, publicly funded bailouts have failed to help the company reduce its dependence on Apple or to accelerate a shift to OLED panels.The company reiterated on Thursday it is in talks with multiple investors to bolster its finances and is aiming to reach an agreement soon.Kyodo news agency reported that the company is in talks to  receive up to 80 billion yen ($723 million) in a bailout from a group including Taiwanese touch panel maker TPK Holding Co  and Chinese state-owned Silk Road Fund.

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