|
LG Electronics has posted record sales and operating profit for the second quarter thanks to strong business in its cell phone division. The company on Monday announced second quarter global sales of W12.7 trillion and operating profit of W856 billion, an all-time quarterly high (US$1=W1,019). The numbers grew 22.1 percent and 84.6 percent, respectively, year-on-year. Sales and operating profit of the LG head office in Seoul also grew 22.5 percent and 336.3 percent, respectively, to W7.2 trillion and W634.8 billion.
The strong performance is attributed to the booming cell phone and display businesses and also the rising won-dollar exchange rate. Second quarter cell phone sales (W3.7 trillion), operating profit (W540 billion), operating profit ratio (14.4 percent) and number of units sold (27.7 million) all hit new records. LG is expected to easily outpace Motorola and rank as the number three cell phone maker in the world after Nokia and Samsung in the second quarter. Its display unit, which turned to black in the first quarter of this year, posted W37.7 billion in Q2 operating profit thanks to brisk TV sales.
An LG official said, "Business was good in the second quarter but sales and appliance profits will likely edge down in the third quarter as it's the low season and due to the global economic downturn."
(englishnews@chosun.com )
|
