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LCD maker BOE to post huge losses in 2008

By Wang Xing (chinadaily.com.cn)
Updated: 2009-01-20 11:49

China's LCD display maker BOE Technology Group said its 2008 net loss is projected to be at 700 million yuan ($102.34 million) to 1 billion yuan due to weak demand for electronic products amid the financial crisis.

Much of the losses were incurred in the second half of 2008 because of the TFT-LCD market slump resulting in a sharp price fall, the Beijing-based company said in a statement filed with Shenzhen Stock Exchange.

BOE Technology reported a net profit of 690.9 million yuan in 2007. It will release the 2008 financial results on April 21.