Flash! Toshiba makes a profit

Japanese giant Toshiba turned in a profit for its financial quarter to December, largely as a result of increased sales of flash memory chips and despite the strength of the Japanese yen.

According to nikkei.com, Exec VP Fumio Muraoka, it was the euro that mostly weighed on Toshiba’s profits, because like many computer companies, much of its business is transacted in US dollars.

The company made a net profit of $150.6 million for its financial third quarter – in the same period in its previous financial year it had turned in a loss.

Toshiba attributed its profits to sales of flash memory chips, used in smartphones and other devices. But Muraoka also said that its TV business also grew.  Its hard drive business continued to make a loss.

The company forecasts it will turn in a yearly net profit of 100 billion yen – its financial year ends in March. Last month, it was rumoured that Toshiba would outsource production of some of its chip range to GlobalFoundries, but sources said the reports were premature.