NEC Profit Triples on Mobile Business
AP is reporting, via Yahoo, that NEC Corp. said Tuesday its profit in the April-June period more than tripled, helped by turnaround efforts in its overseas mobile phone operations. Profit at the Tokyo-based electronics manufacturer totalled 973 million yen (US$8.2 million) for the three months ended June 30, up dramatically from 261 million yen the same period the previous year.
Quarterly sales dropped 2.3 per cent to 1.008 trillion yen ($8.48 billion) from 1.031 trillion yen, partly due to the sale of Packard Bell BV last year, NEC said. The company maintained its forecast for the fiscal year ending March 2008 of profit of 30 billion yen (US$252.5 million) on 4.7 trillion yen ($39.56 billion) in sales. NEC has been turning around its business, focusing on network products.