The company's outlook has dimmed dramatically from a quarter ago, when it looked forward to a bounce back in Chinese demand after the end of Covid-19 lockdowns in major cities.
Consumers in the world's biggest smartphone market have not responded with a spending spree and Murata sees little prospect for a rally over the next year, its president, Mr Norio Nakajima, told Bloomberg News.
"The momentum will not come back at least during fiscal 2022, and the situation is not that positive going into the next term," Mr Nakajima said. "Demand for consumer electronics has dropped drastically."
This story is from the October 21, 2022 edition of The Straits Times.
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This story is from the October 21, 2022 edition of The Straits Times.
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