LG Electronics’ profit up 19 percent on TV, appliance sales

SEOUL, South Korea (AP) — LG Electronics Inc. says its second-quarter net income jumped 19 percent thanks to strong sales of high-end TVs and home appliances that outweighed another quarterly loss in its handset business.

The South Korean company said Thursday its April-June earnings came in at 268.51 billion won ($238.59 million), on sales of 14 trillion won ($12.44 billion).

LG said its TV and home appliance divisions reported the strongest results in the company’s history.

But its mobile phone division was in the red for a fifth straight quarter despite the company’s ambitious launch of the G5 smartphones.

Initially, the G5 received positive reviews with its modular designs that feature a bottom that pops out and can be swapped in with other hardware. But LG failed to increase sales of flagship phones.

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