Tags: AS | SKorea | Earns | LG Electronics

LG Electronics' Profit up 19 Percent on TV, Appliance Sales

Thursday, 28 July 2016 04:51 AM EDT

SEOUL, South Korea (AP) — LG Electronics Inc. says its second-quarter net income jumped 19 percent thanks to strong sales of high-end TVs and home appliances that outweighed another quarterly loss in its handset business.

The South Korean company said Thursday its April-June earnings came in at 268.51 billion won ($238.59 million), on sales of 14 trillion won ($12.44 billion).

LG said its TV and home appliance divisions reported the strongest results in the company's history.

But its mobile phone division was in the red for a fifth straight quarter despite the company's ambitious launch of the G5 smartphones.

Initially, the G5 received positive reviews with its modular designs that feature a bottom that pops out and can be swapped in with other hardware. But LG failed to increase sales of flagship phones.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Asia
LG Electronics Inc. says its second-quarter net income jumped 19 percent thanks to strong sales of high-end TVs and home appliances that outweighed another quarterly loss in its handset business.The South Korean company said Thursday its April-June earnings came in at...
AS,SKorea,Earns,LG Electronics
132
2016-51-28
Thursday, 28 July 2016 04:51 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved