LG reports record-high earnings
LG Electronics announced on Wednesday a record high quarterly revenue of $ 1.15 trillion Korean won ($ 920 million), a jump of 62 percent in the year ago quarter.
Global sales for the quarter ended June 30, shot up 13.8 percent to 14.5 trillion won ($ 11.63 billion).
Net profit exceeded expectations of analysts interviewed by Dow Jones, which is a forecast of about 743 billion won. Profit is also a strong rebound from the first quarter, when the LG is the loss of 197.6 billion won.
LG results have been helping a weak won against the U.S. dollar. But the dramatic increase in sales, and mobile phones, flat screen TV also increased the bottom line.
LG shipped a record 4.28 million LCD TVs in the second quarter, compared with 2.96 million a year ago. Mobile supply reached 29.8 million units in the quarter, 8 percent higher than year ago quarter and 32 percent higher than in the first quarter. The company said consumer demand was particularly high for its new touch screen phone Cookie.
In the current quarter, the company sees revenue growing by more than 10 percent based on continued demand for televisions and telephones. LG announced its new LCD TVs with LED backlighting will help it gain a significant share of the flat market. While LG expects industrywide shipments of mobile phones to fall 6 percent worldwide this year, the company expects that its own parties will continue to grow.
Last month, LG said that it is looking to beat Sony, as the number 2 LCD TV Maker, increasing its supply this year, 70 percent to 18 million people.
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标签:earnings, LCD TVs, LG, new cell phones
