Sharp is back to black
 

Thanks to Foxcon cost-cutting

The troubled Japanese tech outift Sharp reported its third consecutive quarter of net profit staying on track to achieve its first annual profit in four years following a cost-cutting drive under Foxconn.

With a profit recovery firmly underway, Sharp is preparing to take the offensive to regain lost presence in electronics markets.

It is expanding a sales drive of television sets in China and re-entering the Americas TV market with a high-end brand, as it aims to double global TV sales to over 10 million sets in the business year beginning April 2018.

The LCD maker posted profit of $130.49 million for the three months through June, reversing a year-earlier loss.

Sharp is an Apple supplier and it maintained its forecast for the year through March. Last year it was still losing a lot of cash.

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