LG Electronics Posts Record-high Quarterly Net Profit

LG Electronics Inc., (SEO:066570) has posted a record-high quarterly net profit, this is thanks to healthy sales of flat-screen TVs and cell phones. LG’s bottom line has also seen a boost; this is thanks to huge foreign exchange gains as the price of the dollar has dropped over the past few months.

According to The Wall Street Journal, LG’s Q2 profits as of June 30 saw a net profit increase of 62% to 1.15 trillion won ($919 million), the same period last year was 707 billion won. LG’s global sales rose 13.8% to 14.50 trillion won, the same period last year that figure was 12.74 trillion.

This was a great result for the electronics giant, as gains were much higher than were forecast. A number of analysts have said that the outlook for LG is looking good for the second half, the momentum will keep moving forward with the sale of new handsets and liquid-crystal-display televisions.