Follow us on Twitter
Follow us on FacebookSharp might be waking up
@ 2016/10/21Troubled Japanese telly maker Sharp is expecting significant improvement in annual profit due to restructuring with its new owner Foxconn.
Shares in the outfit soared more than 10 percent after the Nikkei business daily reported that Sharp forecasts operating profit of about $385 million for the business year through March which was much better than expected.
Meeting the forecast would mark the first operating profit in three years for Sharp, which is rebuilding under Taiwan's Foxconn which bought two-thirds of the telly maker in August.
Sharp slashed about 6,000 jobs in the last financial year through early retirement and an operations overhaul including withdrawal from its money-losing North American TV set business.
Shares in the outfit soared more than 10 percent after the Nikkei business daily reported that Sharp forecasts operating profit of about $385 million for the business year through March which was much better than expected.
Meeting the forecast would mark the first operating profit in three years for Sharp, which is rebuilding under Taiwan's Foxconn which bought two-thirds of the telly maker in August.
Sharp slashed about 6,000 jobs in the last financial year through early retirement and an operations overhaul including withdrawal from its money-losing North American TV set business.
