Toshiba profits double on smartphone sales


31 Jan 2011

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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.

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

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