Toshiba's Q3 splattered with red ink

The Tokyo-based electronics company Thursday reported a net loss of 121 billion yen (US$1.36 billion) for the October-December quarter, plummeting from the 80.5 billion yen ($896.5 million) profit it booked in the same period the year before.

Toshiba also posted an operating loss of 158 billion yen ($1.78 billion) from a 42.1 billion yen ($468.9 million) operating profit a year earlier, with sales declining 79% to 1.49 trillion yen ($16.72 billion).

Read the full article here.