LG Posts Profit
LG Electronics posted the equivalent of a $427 million profit in the most recent quarter, after posting a loss for the same period the year before.
According to the AP, the profit came due to record sales of mobile phones, as the company sold 24.4 million handsets worldwide. The company also drew strength from its flat-panel TV business, which became LG Display Co. in March after Philips reduced its stake in the partnership.
Analysts, however, had actually predicted a bigger profit for the company than the one posted.