Toshiba profits double on smartphone sales


31 Jan 201173 Views

Toshiba Corp. has benefitted from global demand for smartphones and tablets as sales of its NAND flash memory chips and liquid-crystal displays boom.

Profits at the Japanese firm doubled in the third quarter of the year and kept its full-year operating profit forecast of US$3.05bn.

However, the company lowered its full-year sales target by almost 6pc.

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For the three months ending 31 December, Toshiba posted operating profit of $0.45bn profit, compared with $0.18bn a year ago.

At home, the company was helped by a government initiative which encouraged households to purchase television sets that consumed less energy. Toshiba, as a result, saw better-than-expected television sales.

Article courtesy of Businessandleadership.com