LG Electronics posted a smaller-than-expected 25% fall in first-quarter operating profit and said it expected improving sales of mobile phones and air-conditioners to drive a recovery in the quarters ahead. LG said its handset margins held up well in the three months ended March, while sales of flatscreen LCD TVs jumped by more than a third from a year ago.
LG said it expected to increase total sales by more than 10% in the second quarter from the first, boosted by strong revenues from air-conditioners. It also said it aimed to increase mobile phone sales by more than 10% in the second quarter from the first.
LG's global-basis operating profit was 455.6 billion won (approx. US$337.1 million) for the quarter to March 31, down 25% from a 605.2 billion won profit a year earlier but up from a 101.4 billion won profit in the fourth quarter last year. Its global-basis sales were 12.85 trillion won.
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