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Japan's Sharp reaps fruits of Apple ties in LCD business

But demand is fading as higher-end panels are increasingly being used in iPhones

Brisk demand for its LCDs from Apple is underpinning Sharp’s earnings.

OSAKA -- Japanese electronics maker Sharp has been reaping big gains from its strengthened ties with U.S. tech giant Apple, the key client of its liquid-crystal display panels.

Sharp's group net profit rose 290% to 53.2 billion yen ($487 million) in the 12 months to end-March, from a year ago. That growth is expected to continue, with the company forecasting a 43% expansion in net profit to 76 billion yen this fiscal year.

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