Toshiba Corp. on Friday announced a record group net loss of 343.56 billion yen (3.47 billion U.S. dollars), Xinhua reported.
It is also the first time that the Japanese electronics giant has gone into the red in seven years.
A severe slump in the global chip industry triggered by the fall in flash memory prices is believed to be the key factor behind the company's huge net loss.
Meanwhile, the company also recorded an operating loss of 250. 19 billion yen (2.53 billion dollars) for fiscal 2008, compared with a profit of 246.39 billion yen (2.48 billion dollars) in the previous year.
For fiscal 2009, Toshiba predicted a net loss of some 50 billion yen (505.05 million dollars) on expected sales of 6.8 trillion yen (68.69 billion dollars).
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