(MENAFN) Sharp Corp. announced posting a net income of USD114 million in the financial year ended in March, returning to the black for the first time in the three years, Xinhua reported.
Sales of the corporate increased by 18 percent, hitting USD2.87 billion in the recording year, compared to the year before in which the company posted net losses of USD5.34 million and operating losses of USD1.43 million.
The Japan-based company said it forecasts its net profits to triple next year due to consumers' increased demand for its smartphones, LCD displays, solar panels and batteries.
"We made a relatively good start in the first year of our medium-term business plan," Sharp President said in a statement.
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