LG Electronics posts operating profit

Seoul, July 25 (IANS) LG Electronics, the world's third-largest mobile phone maker and the No.2 TV manufacturer, posted 348.99 billion won ($304 million) in operating profit for the second quarter, a regulatory filing showed Wednesday.

Consolidated operating profit, which includes profits from its units, reached 348.99 billion won during the April-June period, up 120.55 percent from a year earlier, according to the regulatory filing. From three months before, the profit was down 22.13 percent, reported Xinhua.

Sales contracted 10.61 percent on-year to 12.86 trillion won in the three months ending June 30, but net profit expanded 46.62 percent to 159 billion won.