Friday, July 20, 2007

LG Elec shares surge on strong earnings

(Reuters) - "News of Motorola's loss certainly helped LG shares as it highlights its handset margin, which came in higher than competitors," said Kevin Lee, an analyst at Woori Investment and Securities.




The world's fifth-biggest mobile phone maker on Thursday posted a second-quarter net profit of 385 billion won , well above analysts' forecasts. LG had posted a loss of 9.7 billion won a year earlier and a 122.6-billion-won shortfall in the previous quarter.


Read more at Reuters.com Business News

No comments: