Sharp Corp. logged a consolidated net profit of 17.7 billion Yen (US $175 million) for the period of April-December 2013, compared to 424.3 billion Yen (US $4.2 billion) loss of the previous year. All six business segments posted operating profits for a second quarter straight. Sales jumped by 21% partly due to a large LCD order from a Chinese Smartphone maker. The company also reported one-off gains of 20 billion Yen (US $198 million) from patent revenue and other sources. Cosst reduction contributed as well, with steps such as staff cuts shrinking fixed costs by 100 billion Yen (US $990 million).
While Sharp’s earnings have hit the bottom, profits have not significantly improved for the LCD business, which accounts for 30% of the sales. Price cuts have sent its large LCD business, which supplies panels for Tvs, into the red. The company will look into making more small to mid-size LCDs for Smartphones and Tablets.