Toshiba Swings to Profit
Toshiba Corp., riding high on the growing popularity of smartphones and tablet computers, said Monday that it swung to a net profit as booming business at its flash-memory operations helped counteract the strong yen.
The Japanese electronics maker also raised its net profit forecast for the full fiscal year through March, due partly to smaller-than-expected restructuring costs.
Toshiba’s earnings recovery shows how the demand for smartphones and tablets, led so far by Apple Inc.’s iPhone and iPad, is benefiting suppliers of chips and other components used in those devices, even as the strong yen eats into their profits.
Toshiba posted a net profit of 12.37 billion yen ($150.6 million) for the fiscal third quarter, compared to a net loss of 10.63 billion yen in the same period a year earlier.
