July 24, 2013 / 12:11 IST
LG Electronics Inc, the world's No.2 TV maker, reported a 9 percent fall in quarterly profit on Wednesday, beating forecasts as weak TV sales and tight margins offset a solid recovery in its smartphone business.
Also Read: Expect stronger growth in second half of FY14: NIIT TechApril-June operating profit fell to 479 billion won, above a consensus forecast of 457 billion won by Thomson Reuters I/B/E/S.The profit compares with 526.7 billion won a year ago and 349.5 billion won in the previous quarter.LG, whose once loss-making smartphone business rebounded to become the world's third biggest late last year, is now hoping its flagship G2 model, due out early next month, will help narrow a gap with market leaders Samsung Electronics Co Ltd and Apple Inc.The South Korean firm, which sold a record 12.1 million smartphones in the second quarter, has said the new G2 model will include a full high-definition screen and connection speed up to twice faster than conventional 4G networks. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
