Hitachi Maxell cuts profit forecast, reduces headcount in battery unit

Oct 22 2014 3:48AM EST | Source: REUTERS Technology

TOKYO (Reuters) - Hitachi Maxell Ltd cut its annual operating profit forecast by 40 percent to 5.1 billion yen ($48 million) on Wednesday and said it would reduce headcount in its lithium ion battery business after high-end smartphone sales sagged.