Electronics Makers Report Mixed Earnings

Some of the world’s biggest electronics companies reported mixed earnings Thursday.

U.S. telecom company Motorola said its third-quarter net profit jumped nine-fold from a year earlier to $109 million. Its earnings got a boost from better-than-expected sales of smartphones based on Google Inc’s Android mobile software.

Motorola’s mobile devices division also posted its first quarterly operating profit in more than three years.

Rival mobile phone maker LG Electronics of South Korea reported a 99 percent drop in third-quarter net income from a year ago to $6 million. LG said losses from its mobile phone business widened as it struggled to compete with Apple Inc’s iPhone in the smartphone market.

The world’s biggest contract microchip maker Taiwan Semiconductor Manufacturing Co. said third-quarter net profits jumped 54 percent from the previous year to $1.5 billion. TSMC said there was strong demand for microchips used in mobile phones and other devices.

Diversified U.S. manufacturer 3M reported a 16 percent rise in third quarter net profit from a year earlier to $1.1 billion, led by strong sales of consumer-electronics components. 3M has wide product range including Post-It notes, optical systems for TVs and medical devices.

3M also lowered its full-year profit forecast citing costs related to several recent acquisitions.

U.S. imaging and photographic company Eastman Kodak said its quarterly losses narrowed to $43 million from $111 million in the same period last year. It said revenues rose on sales of inkjet printers and a deal to license Kodak technology to an undisclosed partner.

Japan’s Sharp Corp. said it returned to profitability in the six months through September with a net income of $176 million, compared to a $218 million loss the year before. Sharp said it benefitted from increased sales of flat-screen TVs and other consumer devices.

But, Sharp cut its full-year profit outlook due falling prices for its liquid crystal display (LCD) screens and a stronger-than-expected appreciation of the yen. A stronger yen erodes the value of Sharp’s overseas earnings when converted to the Japanese currency.

Some information in this story was provided by AP, AFP, Bloomberg and Reuters.