LG Electronics Posts 19% Increase In Q2 Profit

LG Electronics posts 19% increase in Q2 profit

SEOUL, (Pakistan Point News - APP - 28th july,2016) - Sales of popular home appliances and televisions offset slumping smartphone sales at South Korea's LG Electronics, which reported a sharp increase in second-quarter net profits on Thursday. Net income for April to June amounted to 268.5 billion won ($238.5 million), up 18.6 percent from a year earlier and 36 percent from the previous quarter, the Seoul-based company said in a statement. The company produces a range of products from mobile phones to televisions and home appliances including air conditioners, washers and refrigerators. Operating profit also rose 140 percent on-year to 584.6 billion won, while sales inched up 0.6 percent to 14 trillion won.