LG Electronics gains on mobile phone sales

LG Electronics gains on mobile phone sales

LG Electronics has said that they have posted a net profit in the first quarter mostly due to impressive sales of their mobile phones.

The company had posted a loss in the same period previous year.

LG also gained from its investments in the LG Display market.

The company earned 422 billion won in the recent quarter compared to a net loss of 123 billion won in the same period last year.

LG CFO Jung Do-hyun said in a statement: “We expect handset sales to exceed 100 million in 2008.”