Sharp reported on Wednesday its fifth consecutive quarterly net profit, boosted by gains in sales of its televisions.

Thge Japanese copmpany, which is controlled by Taiwan's Foxconn, posted a net profit of 20.6 billion yen ($189.5 million) in October-December, nearly five times what it logged in the same period a year earlier.

The company maintained its full-year net profit forecast at 69 billion yen.

"Sales of TVs grew in China," said Executive Vice President Katsuaki Nomura, adding that the company is continuing to make use of Foxconn's sales network there.

Japanese display makers such as Sharp and Japan Display Inc are trying to catch up with Samsung Electronics LG Display in the OLED production for smartphones.

Sharp will begin mass producing OLED panels, mainly for its own smartphone line-up, between April and June this year. Its chief executive, Tai Jeng-wu, has said he would like to join forces with Japan Display in OLED technology to better compete with South Korean rivals.