Autoparts and home appliance maker Bosch, could lose up to EUR3bn (US$4.4bn) this year, its first loss since World War II, a German newspaper said on Tuesday.
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Bosch last year booked a net profit of EUR372m though that was down 87% year on year, AFP noted.
A Bosch spokesman declined to comment on the report in business daily Handelsblatt to the news agency, calling it “market speculation”.
Bosch’s results were hit by investments in solar energy and lithium ion battery development as well as the general global auto sales slow-down, the paper said.
Sources close to the company were cited as saying that it was trying all means to reduce losses such as through the sale of brake activities in the United States to Japan’s Akebono Brake Industry.
