SEOUL, April 29 South Korea's LG Electronics Inc
on Tuesday said its first-quarter operating profit
rose 44 percent from a year earlier, beating analyst estimates,
as growth in sales of high-end TV models helped offset losses
from its handset business.
LG reported January-March operating profit of 504 billion
won ($487 million), compared with the 279 billion won mean
estimate of 37 analysts polled by Thomson Reuters I/B/E/S.
The world's second-largest TV maker after Samsung
Electronics Co Ltd reported operating profit of 349
billion won a year earlier and 238 billion won in
The Korean manufacturer said its TV division ran an
operating profit of 240 billion won from 11 billion won a year
earlier. Its mobile phone unit ran a 9 billion won loss from 133
billion won profit.
Shares of LG Electronics rose 3 percent after the earnings
announcement, versus a 0.2 percent fall in the wider market
($1 = 1035.1500 Korean Won)
(Reporting by Se Young Lee; Editing by Christopher Cushing)