OSAKA -- Apple supplier Nidec continues to suffer from falling demand for industrial and smartphone components, delivering a bleak assessment that the business environment in China has not improved.
The precision motor maker's operating profit tumbled 39% on the year to 27.9 billion yen ($258 million) during the three months ended in June for a third straight quarter of declines, the Kyoto-based company said Wednesday. Sales for the fiscal first quarter slipped 3% to 360.8 billion yen.
