LG Electronics first-quarter profit sinks, TV pain outweighs phone revival

by admin on April 24, 2013

By Miyoung Kim SEOUL (Reuters) – LG Electronics Inc , the world's No.2 TV maker, said quarterly profit fell 13 percent as sharp price cuts resulted in razor-thin margins for its TV division, overshadowing a strong recovery in smartphones. Since late last year, LG and bigger rival Samsung Electronics Co have had to contend with unfavorable currency rates that benefit Japanese rivals, while global …

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