LG Q2 profits climb thanks to cost cutting, but mobile business flounders

LG Prada04_1020

Korean manufacturer LG Electronics has reported Q2 net profits of 159 billion won ($ 138 million), up 46 percent from the second quarter of last year. Attributable largely to a program of cost reductions and a shift away from low-margin products such as tablets, the jump comes amid a 10.6 percent decline in overall takings. While LG’s home entertainment, appliance, and air conditioning divisions performed strongly, revenues from the company’s mobile business fell 28.5 percent year-on-year.

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