LG im­proves on its profit

The Star Early Edition - - INTERNATIONAL -

LG ELEC­TRON­ICS, South Korea’s tech gi­ant, saw an in­crease in its sec­ond-quar­ter op­er­at­ing profit de­spite a mo­bile busi­ness loss that was off­set by out­per­for­mance in the home ap­pli­ances busi­ness, the com­pany said yes­ter­day. Op­er­at­ing profit was 664.1 bil­lion won (R7.72bn) in the April-June pe­riod, up 13.6 per­cent from a year ear­lier. Rev­enue grew 3.9 per­cent over the year to 14.55 tril­lion won in the quar­ter, and net in­come jumped 91.7 per­cent to 514.9bn won. LG’s mo­bile busi­ness posted op­er­at­ing losses for the ninth con­sec­u­tive quar­ter due to weak sales of its flag­ship G6 smart­phone and ris­ing mar­ket­ing ex­penses.

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