Japanese consumer electronics maker Kyocera Wireless Corp. announced a higher net profit for the third quarter, due to high demand for mobile phone handset parts and an earnings recovery in its U.S. units. Global cell phone handset demand in 2003 rose an estimated 10.9 percent from 2002 to about 453 million units, according to the Japan Electronics and Information Technology Industries Association.
Net profit at Kyocera came to 17.5 billion yen (approx. U.S. $165 million) in the period through October 2003 to December 2003, up 50.5 percent from the same period in 2002. Sales totaled 297.45 billion yen (approx. U.S. $2.8 billion), up 5.9 percent. For the full-year to March 2003, Kyocera stood by its previous forecast of a 50 billion yen (approx. U.S. $472.5 million) net profit.
Strong results were expected as Kyocera President Yasuo Nishiguchi said that the company would beat its forecasts for the year to March 2004 due to brisk handset sales in the year-end shopping season. Mr. Nishiguchi has also said the company is aiming for double-digit sales growth and for profits to rise by as much as 30 percent in the business year starting in April 2004. (Reuters)
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