26 Apr '12, 8am

High-end TV sales bring turnaround for LG: LG Electronics has reported US$215 million in net profits during the

High-end TV sales bring turnaround for LG: LG Electronics has reported US$215 million in net profits during the

High-end TV sales bring turnaround for LG Julian Ho, Taipei; Alex Wolfgram, DIGITIMES [Thursday 26 April 2012] LG Electronics has reported US$215 million in net profits during the first quarter and estimates that its second quarter total revenue will be US$10.75 billion with operating profits at US$396 million amongst this summer's Olympics in London. LG said its profits increased sequentially due to extra added value with its high-end flat-screen TV products and smartphones, but were down 7% compared with the same time last year due to the economic crisis in Europe. Sources said this year LG will be in competition with Korean and Japanese firms such as Samsung Electronics over high-end LCD TVs and 3D TVs. Taiwanese brands will also be pushing their 3D TVs, prices of which have been dropping, added the sources. Meanwhile, LG's Home Appliance Company's operating profits inc...

Full article: http://www.digitimes.com/news/a20120426PD212.html

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