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BOE loss may total 500m yuan in Q1

(Global Times)

08:39, April 17, 2012

BOE Technology Group Co, China's largest producer of flat panel displays, may suffer a loss of around 500 million yuan ($79 million) in the first quarter, industry insiders predicted.

Although it realized a profit of 560 million yuan last year, profits were mainly shored up by the 3.72 billion yuan earned through the sale of its subsidiary, Erdos BOE Energy Investment Co, according to its 2011 earning report released Monday, indicating that BOE still lost money on its major operating businesses.

The gloomy global market of electronic devices dragged down the prices of BOE's flat panel displays, which contributed to the company's losses.

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