LG reports profits are back in the green

LG report $100 million profits in the last quarter, primarily due to strong TV sales.

It seems that after six months of losses, LG can finally rest easy as the electronics giant just reported a net profit of ?108 billion ($100 million) in the last quarter, primarily thanks to sales of their LED and Cinema 3D TVs. Its handset subsidiary, which has been pushing into the Android high end with devices like the Optimus 2x is still struggling, however their losses were halved compared to last quarter. Meanwhile, the LG Home Appliance Company posted “record-high” sales, but profits were held back by higher material costs, currency fluctuations and greater competition. Ultimately, LG are battling back to health but it seems like the war is far from over.

Source: Engadget