NEC Electronics forecasts Y8 billion loss

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NEC Electronics Corp said Tuesday that it now forecasts a group net loss of 8 billion yen for fiscal 2008 to next March, against zero profit previously forecast, as the semiconductor market “is becoming increasingly difficult” amid the worsening global economy.

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The Japanese chipmaker also cut its group operating profit forecast to one billion yen from 10 billion yen and its sales forecast to 660 billion yen from 685 billion yen. “Sales of automotive semiconductors, multipurpose microcontrollers, and discrete devices in particular are expected to face much harsher market conditions than originally forecast,” NEC Electronics said in a statement.

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