LG Reports Profit and Sales Increases Oct 22, 2009

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LG Electronics Inc. said 3Q net profit increased, thanks to sales of its flat screen TVs and mobile phones. The company earned 807.2 billion won (approx. US$684 million) in the three months ended Sept. 30. Sales during the quarter rose 14% and was the highest ever for a third quarter, the company said.

The company said that sales at its home entertainment company rose 24%, and it sold a quarterly record 4.01 million liquid crystal display TVs.

LG also reported higher home appliance sales in emerging markets. Air-conditioner sales, it said, declined amid the global downturn.

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