LG Electronics Reports Record Q2 Earnings

LG Electronics yesterday said it posted record highs in sales, operating profit and net income in the second quarter of the year.

Despite the global economic downturn, LG’s global sales reached 14.5 trillion won (11.6 billion U.S. dollars) in the second quarter, generating an operating profit of 1.13 trillion won (907 million dollars).

Operating profit exceeded an LG record of one trillion won (801 million dollars), topping the mark set by the company in the second quarter last year of 856 billion won (685 million dollars). Quarterly sales also rose to a new high, breaking the record of 13.4 trillion won (10.7 billion dollars) in last year’s fourth quarter.

Sales in the second quarter reached 8.48 trillion won (6.78 billion dollars), operating profit 714.4 billion won (571 million dollars), and net income 1.15 trillion won (920 million dollars). The company’s net income exceeded one trillion won for the first time in its history.

By selling 29.8 million mobile handsets in the second quarter, the company is expected to hold 11.1 percent of the world market.

abc@donga.com smhong@donga.com