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LG Profit Jumps, but Hopes for Turnaround Dim

Published on July 24, 2012
by Jung-Ah Lee

LG Electronics Inc. on Wednesday posted a 47 percent increase in its second-quarter net profit powered by stronger profitability in its flat-screen television and home appliance operations, though the result was still short of analysts’ expectations as sales at LG’s handset business languished.

The company also warned that its operating profit will likely narrow in the third quarter compared with the second due to slowing sales of home appliances and air-conditioners, as demand for such goods usually peaks in the second quarter. It said higher marketing expenses to promote its new TVs and smartphones could also weigh.

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