“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?
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