LG reveals profits surge

By Editorial Team (Monday, 21st July 2008)

Mobile manufacturer LG has announced an 84 per cent increase in net profits for the second quarter of 2008.

The South Korean firm said that it earned £347.8 million during the three months to July, compared with £188.5 million for the corresponding period last year.

Sales rose by 22.5 per cent during the second quarter, with LG shipping 27.7 million mobile handsets in total. The company said that it managed to sell seven million touchscreen mobiles in this period, led by the success of its most popular model, the Viewty.

LG president and chief executive officer Dr Skott Ahn said that the firm was "a true pioneer in touchscreen phones".

He added: "From the beginning, we have worked to create phones that are extremely easy to use despite their myriad features."

LG recently overtook Sony Ericsson to become the world's fourth largest handset producer after Nokia, Samsung and Motorola.

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