Recently, company officials from LG Electronics said that the second largest maker of flat screen TVs in the world has enjoyed an impressive development in its profits for the July to September period. This is apparently due to the record shipments of TVs and other kinds of consumer electronics products.
LG said that in the third quarter, it saw profits increasing to 49% from the previous year to 850.2 billion (around $721 million). The company’s net profit of 807.2 billion was over 30 times higher than that of the same period last year which was reported by the company to be 24.9 billion.
The home entertainment division of the company which mostly relies on its LCD (Liquid Crystal Display) TVs saw the operating profit rise over seven fold to 254.8 billion. On the other hand sales increased to 4.92 trillion which accounted to almost 24%.
Figures show that in the third quarter, the company sold a record four million LCD TVs. LG expects the sales of these TVs to go up to 25 million next year due to new products like LED (Light Emitting Diode) backlight LCD TVs.
These sales are surely going to increase the sales of TV brackets as well. After all, what better way to watch high definition TVs than by mounting them on the right TV bracket?