LG Electronics Inc., the world’s third-largest maker of liquid-crystal-display televisions, reported record qu
arterly profit, fueled by demand for flat- panels TVs, and forecast higher sales in the current period.Second-quarter net income climbed 62 percent to 1.15 trillion won ($917 million), from 706.9 billion won a year earlier, Seoul-based LG said in a statement today. Profit was almost 50 percent higher than the 770.7 billion won median estimate in a Bloomberg survey of 17 analysts.LG Electronics plans to overtake Sony Corp. in terms of LCD TV shipments this year by offering wireless and energy-saving models. The uncertainty in the global economy will continue in the current period, the company said in a statement today.“In short, it’s as good as it gets,” said Lee Jin Woo, a fund manager at Seoul-based KTB Asset Management Co., which manages the equivalent to $8 billion in assets. “What’s more encouraging is that increased brand recognition from LG’s handsets is spilling over to other products such as TVs and home appliances.”
arterly profit, fueled by demand for flat- panels TVs, and forecast higher sales in the current period.Second-quarter net income climbed 62 percent to 1.15 trillion won ($917 million), from 706.9 billion won a year earlier, Seoul-based LG said in a statement today. Profit was almost 50 percent higher than the 770.7 billion won median estimate in a Bloomberg survey of 17 analysts.LG Electronics plans to overtake Sony Corp. in terms of LCD TV shipments this year by offering wireless and energy-saving models. The uncertainty in the global economy will continue in the current period, the company said in a statement today.“In short, it’s as good as it gets,” said Lee Jin Woo, a fund manager at Seoul-based KTB Asset Management Co., which manages the equivalent to $8 billion in assets. “What’s more encouraging is that increased brand recognition from LG’s handsets is spilling over to other products such as TVs and home appliances.”For Further Details Visit At:www.bloomberg.com/apps/news?pid=20601080&sid=apBvi5CSvOlo
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