LG Electronics said Thursday its fourth-quarter net profit was more than 12 times greater than earnings in the same period a year ago amid record mobile phone sales and a turnaround in its flat panel subsidiary.
LG Electronics Inc., the world's fifth-largest manufacturer of mobile handsets, said in a statement that it earned 621.3 billion won ($654.2 million) for the three months ended Dec. 31. LG posted net profit of 49 billion won in the same quarter of 2006.
Sales during the quarter rose 6.4 percent to 5.87 trillion won ($6.18 billion), up from 5.52 trillion won a year earlier, LG said.
The company sold a record 23.7 million handsets in the …

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