Net profit surged 188.2 percent to 32.6 billion yen (271.6 million dollars), recurring profit jumped 67.6 percent to 81.9 billion yen and revenue rose 11.1 percent to 2.00 trillion yen.

The company's profit performance surpassed its rivals, but fell short of record levels set in the year to March 2001, senior managing director Hiroshi Saji said.

"In the new financial year, we aim to post a record in all profit lines," he told a news conference.

Despite a global economy that gives "no ground for optimism," the company aims to boost its net profit to 50 billion yen, recurring profit to 100 billion yen and revenue to 2.15 trillion yen in the year to March 2004.

Sharp plans to offset the downward pressure on prices of its mainstay LCD products by focusing on higher profit margin goods, Saji said.

The firm plans to boost LCD TV sales to 1.5 million units in the current year from 890,000.

In the mobile phone market, the company will release handsets with advanced technology in Japan, while focusing on expanding sales of digital camera-equipped handsets in Europe, Saji said.

Sharp expects domestic sales of mobile phones to be nearly flat, after seeing a 37.5 percent rise in the past year.

It is aiming for 78 percent growth in overseas mobile phone sales, following a sixfold rise previously.

SPACE.WIRE