(MENAFN) Japan's Sharp Corp said it expected revenue from Chinese smartphone makers to grow fivefold in the six months to September, after a rise of 55 percent in operating profit in the first quarter, The Peninsula Qatar reported.
Sharp said that increased demand from major customers led it to earn an operating profit of USD20.18 million in its LCD panel business after posting a USD92.5 million loss on the unit in the same quarter last year.
A big part of that recovery was due to demand from rising stars in China's smartphone market. Sharp's president, Kozo Takahashi, said the company expected revenue from Chinese handset makers to swell to USD974.4 million in the first half of the year to September 30.
"We've been so surprised by the increase in business we will have to review our forecasts, but will do so based on negotiations going forward," Takahashi said.
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