The upturn in the global handset market helped Toshiba narrow its third-quarter losses as its NAND flash memory chip business boosted its results.
Toshiba holds the world's No. 2 spot in NAND sales, after Samsung. NAND is frequently used in smartphones and other consumer electronics devices, including the Apple iPad.
Overall sales in Toshiba's Electronic Devices segment fell 12 percent year-on-year on declines in the segment's semiconductor, integrated circuits and LCD businesses. NAND Flash memories posted a profit thanks in part to a 10 percent increase in chip prices.
Toshiba lost $118.3 million in its third fiscal quarter thanks to a 6.1 percent increase in overall sales. Toshiba blamed the loss on restructuring charges. Going forward, Toshiba said its expects its chip segment to break even but that its LCD and computer businesses would have a negative impact on its bottom line.