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LG Announces Company’s Strong Quarter

LG has recently come forth to say that it has turned a new corner with the sales of flat panels and operating profits up. The company believes that an aggressive product line-up in televisions will continue to fuel profits. The company saw its first operating profit in early of 2010. LG feels confident that the Cinema 3D TV range and its Smart TVs will be the driving force of product sales.

The company has seen success, largely due to its cost-cutting efforts and are currently in a 73.1 million USD profit in the first quarter. The company also pointed to a significant improvement in operating profits for its mobile sector, despite a slight decrease in revenue.

The company stated, “While overall handset shipments declined quarter-over-quarter as a result of slow seasonality, operating profit showed significant improvement in the first quarter due to an increase in smartphones in the company’s portfolio and reduction in overhead costs…The company expects to improve its product mix by launching new smartphones including the LG Optimus Black and the LG Optimus 3D and gain profitability by further cutting costs.” Whether it was just a good season for LG, or they are a rising force in new electronics, is yet to be seen.

Photo Courtesy of Shyb
Photo Courtesy of Theron T.