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LG flatpanel TVs a roaring success

April 19th, 2006 · No Comments

LG, the world’s fourth largest mobile phone maker, has followed in Samsung’s footsteps by reporting operating losses for the current quarter.
The combined output from its four business groups (household appliances, TVs, PCs and mobile phones) was down 6.2 percent to 5.8 trillion won, on the previous quarter. Worst hit was its handset division which reported a 31 billion won operating loss.
On the plus side, LG’s flatpanel TV business (a partnership with Philips, which makes both and panels) roared in defiance. Reversing a downward trend, it has delivered 30 billion won of net profit from a 58 billion won net loss. LG’s overall net profit is 160 billion won, down on previous quarters but up 98 per cent year on year.
Financial analysts are now waiting on Sony, which reports its full-year earnings on April 27.

Tags: High definition TV · LCD TV · Plasma · Trade

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