LG Electronics posts Q1 net loss on weak demand

SEOUL, April 21 (Yonhap) -- LG Electronics Inc., the world's third-largest
cellphone maker, said Tuesday it recorded a net loss in the first quarter because
of low demand amid a global economic downturn.
Net loss reached 197.6 billion won (US$146.4 million) in the three months ended
March 31, compared to a net profit of 422.2 billion won a year earlier, the
company said in a regulatory filing. The red ink, however narrowed sharply from a
671 billion won loss three months earlier.
Sales rose 2.1 percent on-year to 7.07 trillion won, while operating profit
tumbled 22.4 percent to 437.2 billion won, it said.
ygkim@yna.co.kr
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