Summary Box: LG Electronics returns to profit

AP News
Posted: Apr 25, 2012 4:50 PM
Summary Box: LG Electronics returns to profit

THE PROFIT: LG Electronics Inc. posted its first profit in three quarters, beating expectations in the first quarter thanks to a revival in its mobile business and demand for high-end TVs.

THE NUMBERS: The South Korean company Wednesday reported net profit of 243 billion won ($215 million) for the January-March period. It had a loss of 15.8 billion won a year earlier. Revenue fell 7 percent, but increased smartphone sales and strong demand for premium TVs shored up earnings.

THE CONTEXT: LG is slowly regaining competitiveness, introducing the Optimus smartphones and allocating more resources to high-end phones.