Toshiba forecasts strong income on back of chip and LCD sales -

Tablet PC chips have helped and will continue to help Toshiba boost its net income and exceed profit forecasts.

In the six months, ending at the end of September, Toshiba's net income had reached $333 million (27 billion yen), compared with a $711 million (57.7 billion yen) loss a year earlier.

Earnings from NAND flash memory were higher than anticipated and liquid-crystal display operations returned to profit.

"The electronics device business is expected to see substantial gains that surpass the the previous quarter as the semiconductor business, most notably the NAND flash business is performing well and the LCD business has returned to profitability," it said in a statement.

Japanese daily Nikkei predicts Toshiba will post an operating profit of over $1.2323 million (100 billion yen) for the April-September period. The $1.2 billion profit will beat Toshiba's own forecast by 43 percent.

Toshiba will post its earnings on the 9th of November.