Sharp On Rebound, Tracking To First Annual Profit In Four Years

October 31, 2017 by Dave Haynes

Sharp seems to be on the rebound after a seriously rough economic patch for the Japanese electronics giant.

Less than three years ago there were big concerns Sharp was going under, having registered a nearly $2 billion loss. Now Reuters is reporting Sharp Corp has reported its fourth consecutive quarter of net profit, and sales are ticking along nicely.

If the forecast sticks. Sharp will record its first annual profit in four years.

Reuters reports:

Sharp, once the dominant leader in liquid crystal display panels, fell into a crisis amid price competition with Asian rivals, but Foxconn’s acquisition last year and its cost-cutting drive have put the firm on a recovery track.

It is now hoping to regain a technological edge in ultra-high resolution television sets, smart housing devices and advanced displays for medical equipment and security systems.

The company in June applied for relisting on the first section of the Tokyo Stock Exchange.