LG Electronics Posts 2Q Results
Jul 20, 2007
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LG Electronics announced unaudited consolidated earnings results for the three month period ended June 30, 2007. LG posted record high sales in the second quarter 2007, it said, thanks to Mobile Communications and Digital Appliance business. The company recorded sales of KRW 10,430 billion (US 11.2 million) on a global basis, which rose 12.6% from KRW 9,260 billion ($9.7 million) a year earlier, and KRW 5,903 billion ($6.3 million) on a parent basis.

Operating profit jumped 50.6% to KRW 464 billion ($499 million) from KRW 308 billion ($324 million) year on year on a global basis, and decreased to KRW 145 billion ($156 million) year from KRW 190 billion ($200 million) year on year on a parent basis.

LG said its Digital Appliance Company had a strong performance, with a jump in sales of 21.4% YoY and 22.5% QoQ to KRW 3,604 billion ($3.8million).

Digital Display Company
Sales mainly from TVs and monitors posted KRW 2,727 billion (USD 2,935 million), a 2.1% decrease from the figure from a year earlier, in the Digital Display Company. 

For the third quarter of 2007, the company said it hopes for continued growth in the handset business, including emerging and developed markets will lead to stable shipments. LG said that a full-scale global marketing plan for growing demands in 40 inches and larger flat panel TVs and value-added IT products will improve the company's overall profitablity.

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