LG has announced financial results for first quarter 2012

The South Korean company LG Elrctronics presented its financial results for the previous first quarter of 2012, where it notes that after two consecutive quarters of net losses the company has returned to a net profit of 243 billion Korean won (214.9 million U.S. dollars), which was a direct result of its efforts in innovation in all key departments and focus on highly profitable products.

Unaudited Condensed Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS - International Financial Reporting Standards), for the quarter ended March 31, 2012, shows revenues of 12.2 trillion. South Korean won (10.8 billion U.S. dollars) in operating profit to 448 billion Korean won (396.1 billion U.S. dollars). It's better operating profit for the entire 2011, which amounted to 280 billion KRW.

Division of LG Mobile Communications uvelichill its operating profit by more than 3 times compared with the previous quarter - from 12 billion to KRW 39 billion Korean won (34.5 million U.S. dollars), which was, according to the company, the result a better product range and increasing the share of smartphone sales. Total revenue decreased by 14% over the same period last year to 2.9 trillion. KRW 2.5 trillion. South Korean won (U.S. $ 2.2 billion) due to lower demand for phones, but sales of smartphones increased due to the popularity in the domestic market, Optimus LTE models, and Optimus Vu. In the second quarter, the company intends to further strengthen its line of smartphones with a series of L-Style and smartphones with quad-core processor.