Sharp Corp, the Japanese electronics maker owned by Taiwan’s Foxconn, posted on Thursday a full-year loss of US$1.9 billion after writing down the value of its panel display business and a swathe of other assets.

The supplier of sensors and screens for Apple’s iPhone reported a group net loss of $1.9 billion in the year that ended in March, from a profit of $540 million a year earlier.

The company said it would not pay a dividend.

Despite slightly higher sales, Sharp said it took a hit of $ 1.6 billion as it wrote down the value of building and machinery in both its LCD and OLED display businesses in Japan, as well software, machinery and buildings in China, Europe, Japan and the United States.

The writedown reflected decreased profitability, it said.

• Reporting by David Dolan; Editing by Clarence Fernandez, of Reuters.