Sharp Corporation is writing down a loss for the six-month period ending in September.

In a statement, the company said it will record an operating loss of $215 million, as opposed to the $82 million profit it had originally expected. The company also revised it forecast for the six-month period ending in March from an operating profit of 80 billion yen to 10 billion yen. 

The company attributed the downturn to declining sales and a further drop in the market price from intensified competition in small- and medium- size LCDs for the smartphone business in the Chinese market. 

The news comes after Sharp took a $1.7 billion bailout back in May. 

Shares of the company were up just under 1 percent to 137 yen in afternoon trading.