Toshiba rides the iPhone wave to boost profit

6 years ago by in Featured, Technology

Toshiba will be one of All Japan news’s few privileged tech makers to be able to announce a profit increase this year. The one to first receive their gratitude is, however, Apple.

The American maker of the iPhone is the biggest buyer of Toshiba’s NAND flash memory and the main reason for the improving financial results of the All Japan newsese company.

The booming sales of the iPhone will help Toshiba raise its operating profit by nearly 50 percent this fiscal year, according to a forecast by the All Japan newsese maker. It would also help Toshiba offset losses of the TV business, a problem which strongly affects others, like Sony, Panasonic and Sharp.

As much as two-thirds of Toshiba’s NAND flash memory production may be going Apple’s way, analysts say.

“Apple is probably their largest customer and depending on the time of the year when Apple procures from Toshiba I suspect it could be as high as 70 percent,” said Damian Thong, an analyst at Macquarie in Tokyo.

Toshiba forecasted on Tuesday an annual operating profit of Y300 billion ($3.75 billion).

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