“Sharp Corp reported on Tuesday a 45 percent rise in first-quarter operating profit, beating analysts’ estimates on soaring profit at its core display business and strong sales of camera modules and sensors,” Thomas Wilson reports for Reuters.

“The Osaka-based company, a supplier to Apple Inc (AAPL.O), said its operating profit was 24.8 billion yen ($223 million) for the April-June period, compared with 17.11 billion yen a year earlier,” Wilson reports. “Seven analysts on average expected operating profit of 18.8 billion yen, according to Thomson Reuters I/B/E/S data.”

“The performance cemented Sharp’s recovery under the ownership of Taiwan’s Hon Hai Precision Industry Co Ltd (Foxconn),” Wilson reports. “Still, investors have remained wary about long-term prospects for Sharp, which is finding the going tough against Asian rivals. Sharp and Japan Display Inc have struggled to respond to smartphone makers’ shift to organic light-emitting diode (OLED) screens, letting South Korean rivals Samsung Electronics Co Ltd and LG Display take the lead.”

Read more in the full article here.

MacDailyNews Take: Bodes well for iPad sales, perhaps?

SEE ALSO:
Sharp to ramp up IGZO panel production in quest to secure display orders for Apple’s new iPad models – March 23, 2018
Sharp increases OLED-investment plan to $878 million as Apple’s next iPhone to feature OLED – March 7, 2017
Apple supplier Sharp may begin building $7 billion U.S. plant in within months as Japan PM meets President Trump – February 8, 2017
Foxconn-Sharp considering LCD plant in USA, plans in response to President-elect Trump’s ‘Make in America’ call – January 13, 2017
With President Trump soon to take office, Apple looks to boost its ‘Made in America’ credentials – January 10, 2017
Sharp President confirms Apple iPhone transition to OLED displays – October 31, 2016
No, Apple’s plans for an OLED iPhone aren’t on hold – October 18, 2016
What if Apple iPhone adopts AMOLED next year? – October 3, 2016
Apple in talks with Sharp to supply OLED screens for future iPhones – September 30, 2016
Apple supplier Sharp names Foxconn exec as CEO to spearhead revival – May 12, 2016
Apple supplier Sharp preps AMOLED displays after Foxconn acquisition – April 6, 2016
Did Apple help Foxconn buy Sharp? – March 31, 2016
Apple supplier Foxconn agrees to buy Sharp after slashing original offer – March 30, 2016