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Profits up at LG, but TV sales slip

July 20th, 2007 · No Comments

The latest financials from LG Electronics reveal rises in sales and operating profit. In its second quarter 2007 earnings statement, LG reported worldwide sales up 12.6 per cent to 10,430 billion Won with operating profit up a massive 50.6 per cent, to 464 billion Won. The biggest earner for the Korean CE-power is its mobile communications division. Display sales didn’t fare so well, dropping 2.1 per cent. The company said in a statement: “Sales mainly from TVs and monitors were 2,727 billion Won, a 2.1 per cent decrease from the figure from a year earlier, but an operating loss of 5.1 per cent showed improvement from the previous quarter through fixed cost reduction efforts and slower flat panel TV price decline.”
LG also benefited from a resurgence of profit from its LG.Philips joint venture panel-making operation.

Tags: Corporate · LCD TV · Plasma · Trade

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