LG.Philips boasts record-breaking profits - PC Retail

LG.Philips boasts record-breaking profits

LCD vendor predicts profitability will improve further during 2008
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LG.Philips LCD, the maker of flat screen panels, has reported its highest ever quarterly profit, rebounding from a loss in 2006.

The vendor reported an $811 million October-December net profit, soundly beating a forecast of $710 million. This result also topped the company’s previous record of $757 million, posted in the second quarter of 2004.

According to Reuters Estimates, LG.Philips is expected to double its net profit this year to $2 billion, with events such as the Beijing Olympics set to stimulate TV sales.

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