Toshiba reports improved income and profits on flash memory sales
South Korea based tech company Samsung is not the only one riding high on high demand of their flash memory modules in the market. Japanese company Toshiba is also benefiting a lot from their presence in the same market. The company raised their annual profit forecast.
The decision to raise their forecast was based on the fact that the companyâ€™s third-quarter net income surged 14-fold. This is largely due to increasing demand for flash memory chips, which are used in mobile phones and other digital products. Apple is one of the worldâ€™s largest buyers of these chips, which they use in their hugely popular iPod range of digital players.
Toshiba impressively reported that their net income climbed to 21.9 billion yen in the three months, which ended on December 31. The company already receives more than half of its operating profit from chips is now facing increased competition from bigger market players like Intel who has announced their decision to enter the market for consumer electronic semiconductors.
Toshiba also has plans to acquire a majority stake in the Westinghouse Electric Co., the power plant unit of British Nuclear Fuels Plc. Overall, it would be interesting to see where Toshiba goes in the coming times. It is exciting times for the company and their investors.