The world's top solar cell maker, Germany's Q-Cells, posted a hefty loss in the first nine months of the year, it said on Thursday, amid tough competition from Asian manufacturers. Skip related content
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The company, based in the former communist eastern Germany, said it slumped to a net loss of 958 million euros (1.4 billion dollars) compared to profits of 153 million euros in the same period in 2008.
Turnover in the first nine months of 2009 also dropped by over 40 percent.
Q-Cells blamed the results on a "drastic fall in prices on the international market for solar cells."
After years of dazzling results, the solar energy sector in Germany has suffered recently, as competition from Asia begins to bite.
