November 13, 2019 / 6:09 AM / 23 days ago

Apple supplier Japan Display logs 11th straight quarterly net loss

TOKYO, Nov 13 (Reuters) - Japan Display reported on Wednesday an 11th consecutive quarterly net loss on sluggish display sales and restructuring costs as the cash-strapped company scrambles to clinch a bailout deal with Apple Inc and other investors.

The liquid crystal display (LCD) maker for smartphones, which gets more than half of its revenue from Apple, posted a net loss of 25.4 billion yen ($233 million) in the July-September quarter, wider than the 7.8 billion loss a year earlier.

Japan Display, money-losing for the past five years due to slowing Apple iPhone sales and the delayed adoption of organic light-emitting diode (OLED) screens, did not give a full-year earnings outlook. ($1 = 109.1000 yen) (Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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