Posted on 22/07/08
Cellphones boost LG but outlook cloudy
LG Electronics Inc. increased second-quarter earnings by 84 per cent with strong results in mobile phones and at its LCD joint venture, but the South Korean firm faces a tougher second half amid a global economic downturn. LG predicted revenue would dip in the third quarter as cash-strapped consumers spend less on high-end gadgets.. LG's April-June profit rose to 707 billion won ($695.4-million) from 385 billion won a year ago. Operating profit globally climbed to a record 856 billion won from 464 billion won. Quarterly revenue rose 22 per cent to 12.7 trillion won. 066570 (Seoul) rose 4,500 won to 113,500 won ($111.46).
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