TOKYO (Reuters) - Smartphone display maker Japan Display said it expects to swing to an operating profit in the current quarter on stronger orders from Chinese handset makers, in contrast with struggling rival Sharp Corp which is seeking a bailout from its banks.
Japan Display, which supplies screens for Apple (NASDAQ:AAPL)'s iPhone and other smartphones, said it expects a profit of 2 billion yen (11 million pounds) for the April-June quarter compared with a loss of 12.7 billion yen in the same period a year earlier.
For the year that ended in March, its operating profit fell to 5.1 billion yen from 27.6 billion yen a year earlier as it was plagued by intense competition from Asian rivals. That was in line with market expectations, according to a Thomson Reuters poll of 17 analysts.