By the strong sales growth and improved margins boost mobile phone, LG Electronics (LGE lectronics) announced fourth quarter net income rose 91%. While the announcement of earnings, the company said it planned to invest in Poland by 2011 to 101 million euros to build a home appliance manufacturing plant.
Ended December 31, 2005 in the fourth quarter, LG Electronics net profit of 312 billion won (about 319 million U.S. dollars), a year earlier data is 163 billion won. However, as companies shift more of its production operations overseas, but also coincided with the won appreciation, sales have shrunk. The company's sales of 6.2 trillion won, down 5.2% year on year.
The fourth quarter handset margins also improved, up 8.1%, higher than the 5.4% the previous quarter and 3.6% a year earlier. The quarter, LG Electronics sold 16.2 million handsets. LG Electronics expects mobile phone sales in 2006, the company will reach 70 million, more than 55 million in 2005 increased 27%.
Currently, LG Electronics is second only to Nokia, Motorola and Samsung Electronics, the world's fourth largest handset maker.
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