Sharp expects for the first time in the last three years to end the year with a profit

The Japanese company Sharp has published a forecast for the current fiscal year. The forecast indicated operating profit of 245 million dollars. If the forecast is justified, Sharp for the first time in three years will complete the year with a profit. Last year, the company incurred a loss of $ 1.54 billion dollars.

To get out of the crisis, the company had to resort to cutting jobs and selling assets. Just last year it laid off about 6,000 employees. Ultimately, two-thirds of the Sharp for $ 5.9 billion, was bought by Foxconn.

In September it became known that Sharp invests in the production of OLED panels 570 million dollars. This sum looks modest compared to the corresponding expenditures by LG Display and Samsung Display, but for a company emerging from crisis, revealing the fact major investments.

Source: Reuters



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