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Struggling giant Sharp has announced a net loss of 424,347 bn yen (A$4.39bn) for the nine month period to December 31 – double the figure a year ago, citing restructuring charges. Sharp, who

makes screens for Pads, said total sales fell 6.4% to 1,782,455 bn yen during the nine months. Fellow Japanese giant, Panasonic, said its net loss doubled to A$6.4Bn, on Friday, also citing

a slump in TV demand. Read: Panasonic Loss Doubles $6.4Bn, TVs Slump The “severe” Japanese economy and depressed private consumption, while slowdown in the growth of China and the European

financial crisis were also blamed on Sharp’s earnings downfall. However, third quarter net sales rose 15% to 678.2 billion yen, and Sharp also recorded an operating profit of 2.6 billion yen

– up 27.1 bn yen. However, it still failed to turn a profit despite rising sales. Q3 Net loss was 36.7 billion yen, down from -173.6 bn yen, which the company said was “a steady

improvement” year-on-year. Comparing Sharp’s reinvention to a mountain climb, President Takashi Okuda said: “We are still in a tough spot financially and earnings-wise, so we’re going to

accelerate our structural reforms without easing up.” “I’d say we’re still not even at the base.” It is still negotiating a deal with Hon Hai, Apple’s largest third party supplier, who had

previously agreed to invest in the struggling company but pulled out, and other companies as it seeks life saving capital injections to stay afloat. Sales  in its ‘Audio-Visual and

Communication Equipment’ division fell 36% to 540.3 bn yen, LCD TVs fell “drastically” due mainly to sluggish demand in Japan and also in China due to worsening Japan-China relations.

However, Sharp TVs enjoyed healthy sales in ASEAN and other emerging countries. Mobile phone sales also declined, due mainly to “severe competition and supply shortages of key components.”

And like Panasonic, sales in appliance and non-consumer electronic categories rose. Sharp reported a rise in sales of air conditioners and washing machines, and its appliance business was up

4.3%, overall.