Sharp is announcing a 376 billion-yen loss (about $4.7 billion) for fiscal 2011, well above its 290 billion-yen estimate from February, citing low sales in its primary businesses, reductions in asset valuation, restructuring expenses, and deferred income tax charges. While the company is doubtlessly in a hurry to move on, it is expecting losses to continue in 2012, to the much smaller tune of 3 billion yen (about $37 million). In addition, Sharp is forecasting TV production to decrease by nearly twenty percent, from 12.2 million to 10 million units; a repeat of last year’s decrease, during which production fell by 17 percent. In contrast, the company expects to see a 29 percent increase in sales of smaller LCD panels for mobile devices.

While Sharp is counting on scaling back the number of TVs it makes, it’s trying to find success further upmarket. It plans to grow its 60-inch-and-bigger TV business at home and abroad, and is starting production on its new IGZO panels this month at its factory in Kameyama. And while it is expecting to sell the same 7.7 million cellphones it sold in 2011, it hopes to outpace competitors by producing high-spec devices and focusing on design — good news for fans of handsets like the Aquos 104SH. It sounds like a recipe for success, but as the company points out, the "tough business environment" is expected to continue in 2012.