LG Electronics returns to profit on mobiles, TVs
SEOUL, South Korea – LG Electronics Inc. posted its first profit in three quarters thanks to a revival in its mobile business and demand for high-end TVs.
LG Electronics Wednesday reported net profit of 243 billion won ($215 million) for the January-March period. It had a loss of 15.8 billion won a year earlier.
Sales fell 7 percent from a year earlier to 12.2 trillion won but increased smartphone sales and strong demand for premium TVs in its home market shored up LG’s earnings.
The company’s quarterly operating profit more than tripled from a year earlier to 448 billion won.
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