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September 22, 2017

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LG Electronics' 2nd quarter profit surges 165% on mobile unit boost

SEOUL -- LG Electronics posted a 165 percent surge in second-quarter net profit Thursday from a year ago, on solid TV sales and a dramatic turnaround in its long-troubled mobile unit.

Net profit for the South Korean electronics giant in the April-June period amounted to 412 billion won (US$399.8 million), LG said in a statement.

Operating profit also soared 26.5 percent for the previous year to 606 billion won, while sales rose 0.9 percent to 15.37 trillion won.

Operating profit of the firm's TV unit — which accounts for the lion's share of LG's overall sales — rose 65 percent on-year to 154.5 billion won, LG said, adding its TV sales remained nearly unchanged at 5.09 trillion won.

The firm noted the popularity of its ultra high-definition TVs in key markets.

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