Japan's Sharp reports wider annual loss on panel inventory glut
TOKYO, May 12 (Reuters) - Japanese electronics maker Sharp Corp on Thursday reported a slightly wider net loss for the year ended in March, weighed by slumping display prices and slower sales of client Apple Inc's iPhones.
The company, which has agreed to a takeover by Taiwan's Foxconn - formally Hon Hai Precision Industry Co Ltd - reported a net loss of 256 billion yen ($2.35 billion) from the previous year's 222.35 billion yen.
Operating loss ballooned to 162 billion yen from the previous year's 48.1 billion yen. That was better than the 170 billion yen the company forecast in March.
($1 = 108.9000 yen) (Reporting by Junko Fujita; Editing by Christopher Cushing)
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