Chip-maker Toshiba has announced consolidated net sales for the second quarter of its financial year (July to September) of 1,616bn yen ($11.98bn), a fall of 260.6bn yen (€1.93bn) from the same period last year.
However, consolidated operating income was 40.3bn yen (€299m), an improvement of 35.9bn yen compared with the same quarter last year, and a 77.9bn yen (€266) improvement over the first quarter of this year.
The company said that memory prices ceased to decline during the second quarter, while company-wide cost reduction measures had also contributed to the improved result. It said income had dropped in its digital products and home appliances divisions, but sales in social infrastructure had improved, while electronic devices were up substantially to record a profit.
Article courtesy of businessandleadership.com