Sharp cashes in on flat-screen TVs
The Osaka-based firm reported annual net profit of 88.7 billion yen (771 million dollars) on revenues which rose 10.1% to 2.80 trillion yen due to brisk sales of liquid crystal displays (LCDs) and related products.
Flat-panel televisions are proving hot-sellers in Japan as fierce competition drives down prices and consumers become less cautious as the economy crawls out of a slump stretching back over a decade.
However, a recent survey by US-based research firm DisplaySearch showed that Sony Corp overtook Sharp as the top global producer of LCD televisions in the three months to March.
Sharp said full-year operating profit rose by 8.4% to 163.71 billion yen with sales of audio-visual and telecommunications products up 12.2% due to solid demand for large-sized LCD TVs and mobile phone handsets.
For the year to March 2007, Sharp forecast net profit of 100 billion yen on sales of 3.0 trillion yen.
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