LG Electronics Reports Profit Increase Jul 21, 2008

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LG Electronics said today that second-quarter net profit increased 84%from the same period last year amid record mobile phone sales. LG Electronics Inc. earned 706.9 billion won (approx. US$694.4 million) in the three months ended June 30. Sales during the quarter rose 22.5% to 7.23 trillion won (US$7.1 billion) from 5.9 trillion won a year earlier.

LG also reported strong sales of flat screen televisions. Liquid crystal display TV sales surged 86% from the year before; sales of plasma models rose 31%.

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