UPDATE 2-NEC Electronics profit tumbles, further fall ahead

Newswire

(Adds CFO comments, details) TOKYO, April 26 (Reuters) - NEC Electronics Corp. , the world's eighth-largest chip maker, posted a sharp fall in operating profit for the last business year and forecast a further decline, hit by sluggish demand for chips used in flat-panel displays. The company, owned 70 percent by NEC Corp. , projected a 25 percent drop in group operating profit to 25 billion yen ($236.5 million) for the year that started in April, below market expectations. A poll of 11 ...

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