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Electronics industry gets pre-Christmas boost

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Electronics industry gets pre-Christmas boost

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The electronics industry has been boosted by some encouraging financial results as it looks forward to the Christmas shopping season.

Samsung, the world’s biggest maker of memory chips and LCD TV screens, recorded its biggest ever quarterly net profit for the three months to September. Japan’s Panasonic ended a run of two quarters of losses by reporting a third quarter profit and raised its full-year operating profit forecast by 60 percent. Things still aren’t looking too good at Sony though which has announced its fourth quarterly loss in a row. Earlier this year it had to drop its price for the Playstation 3, while its lack of a rival to Apple’s iPhone has dented sales of mobile phones. But there is a silver lining for Sony, which has slashed its operating loss forecast for the year to March by almost half. Toshiba, Acer and Sharp also produced results that give some pre-festive cheer to the whole industry.