LG Electronics said Monday that second-quarter net profit surged 84 percent from the same period last year amid record mobile phone sales. LG Electronics Inc. earned 706.9 billion won (US$694.4 million) in the three months ended June 30, the company said in a regulatory filing. LG posted a net profit of 384.6 billion won a year earlier. Sales during the quarter rose 22.5 percent to 7.23 trillion won (US$7.1 billion) from 5.9 trillion won a year earlier, LG said. LG said in a press release that it sold a record 27.7 million mobile phone handsets during the second quarter, led by its high-end Secret, Viewty and Venus models. The company also reported strong sales of flat screen televisions. Liquid crystal display TV sales surged 86 percent from the year before; sales of plasma models rose 31 percent. LG also said that net profit was boosted by its investment in flat panel maker LG Display Co., which earlier this month reported a threefold increase in its second-quarter net profit compared with last year. LG Electronics also manufactures personal computers, refrigerators, washing machines and other household appliances. Shares in the company rose 4 percent to close at 113,500 won (US$112). The company released earnings about one hour before the stock market closed.
