Earns better than expected
Despite continuing weakness in its television division and a global slow down Toshiba forecast an annual operating profit of $3.75 billion. This figure is above the $3.6 billion that Wall Street Analysts predicted.
The company's operating profit is down 14 percent from the previous year, thanks to weak domestic TV sales and a global economic slowdown, things could have been a lot worse. As it was expected the LCD TV sector posted a big loss but then again the same thing happened to Sony, Panasonic and Sharp.
In the fourth quarter Toshiba operating profit rose by 18 percent which was better than expected.
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Nick Farrell
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