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LG switched on to record profit

LG Electronics said yesterday that second-quarter net profit soared 62 percent to an all-time high amid record sales of flat-screen televisions and mobile phones.

LG Electronics Inc, the world's third-largest manufacturer of mobile phones and flat-screen TVs, earned 1.15 trillion won (US$921 million) in the three months to June 30, it said. It posted net profit of 707 billion won a year earlier.

Company spokeswoman Judy Pae said the latest net profit figure was a quarterly record after two straight quarters of net losses for the Seoul-based company, which has emerged in recent years as a growing force in global consumer electronics.

Sales during the second quarter rose 17 percent to a record 8.48 trillion won from 7.23 trillion won a year earlier.

LG said unit sales of flat panel TVs were "robust."

Sales of mobile phone handsets rose 7.8 percent to 29.82 million, also a record.


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