Sharp curbs iPad screen output

Updated 19 January 2013
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Sharp curbs iPad screen output

TOKYO: Sharp Corp. has nearly halted production of 9.7-inch screens for Apple Inc’s
iPad, two sources said, as demand shifts to its smaller iPad mini.
Sharp’s iPad screen production line at its Kameyama plant in central Japan has fallen to the minimal level to keep the line running this month after a gradual slowdown began at the end of 2012 as Apple manages its inventory, the industry sources with knowledge of Sharp’s production plans said.
Sharp spokeswoman Miyuki Nakayama said: “We don’t disclose production levels.”
The sources didn’t say how much of the slowdown was due to seasonal changes in demand or consumers opting for the smaller iPad mini and were unable to characterize Apple’s overall tablet sales.
Macquarie Research has estimated that iPad shipments will tumble nearly 40 percent in the current quarter to about 8 million from about 13 million in the fourth quarter, although Apple’s total tablet shipments will show a much smaller decrease due to strong iPad mini sales.

Any indication that iPad sales are struggling could add to concern that the appeal of Apple products is waning after earlier media reports said it is slashing orders for iPhone 5 screens and other components from its Asian suppliers.
Those reports helped knock Apple’s shares temporarily below $ 500, the first time its stock had been below the threshold mark in almost one year.
Apple, the reports said, has asked state-managed Japan Display, Sharp and LG Display to halve supplies of iPhone panels from an initial plan for about 65 million screens in January-March. Apple is losing ground to Samsung, as well as emerging rivals including China’s Huawei Technologies Co. Ltd. and ZTE Corp.
In addition to Sharp, Apple also buys iPad screens from LG Display Co. Ltd, its biggest supplier, and Samsung Display, a flat-panel unit of Samsung Electronics.
Both LG Display and Samsung Display declined to comment.


Oil theft ‘costing Libya over $750m annually’

Updated 7 min 43 sec ago
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Oil theft ‘costing Libya over $750m annually’

  • Libya’s oil sector collapsed in the wake of the 2011 NATO-backed uprising that toppled longtime dictator Muammar Qaddafi.
  • The recovery of oil production and exports is key to restoring Libya’s economy.

Tripoli: Fuel smuggling is costing Libya more than $750 million each year and harming its economy and society, the head of the National Oil Company in the conflict-riddled country said.
“The impact of fuel smuggling is destroying the fabric of the country,” NOC president Mustafa Sanalla said according to the text of a speech delivered on Wednesday at a conference on oil and fuel theft in Geneva.
“The fuel smugglers and thieves have permeated not only the militias which control much of Libya, but also the fuel distribution companies which are supposed to bring cheap fuel to Libyan citizens,” he said.
“The huge sums of money available from smuggling have corrupted large parts of Libyan society,” he added.
The backbone of the North African country’s economy, Libya’s oil sector collapsed in the wake of the 2011 NATO-backed uprising that toppled longtime dictator Muammar Qaddafi.
Before the revolt Libya, with estimated oil reserves of 48 billion barrels, used to produce 1.6 million barrels per day (bpd).
But output fell to less than 500,000 bpd between 2014 and 2016 due to violence around production facilities and export terminals as rival militias fought for control of Africa’s largest crude reserves.
No oil was exported from Libya’s main ports until September 2016 with the reopening of the Ras Lanuf terminal in the country’s so-called oil crescent.
The recovery of oil production and exports is key to restoring Libya’s moribund economy.
Sanalla urged Libya’s “friends, neighbors but above all the Libyan people themselves... to do everything they can... to eradicate the scourge of fuel theft and fuel smuggling.”