On July 26th, LG Innotek (CEO by Ung-Beom Lee) announced that according to International Financial Reporting Standards (IFRS) the company recorded – 1,236 billion won in sales, resulting in a 19 billion won operating profit during the 2nd quarter. The company has recorded two consecutive profitable quarters.

During the 2nd quarter, sales increased by 0.1% and operating profit decreased by 20.2% compared to the previous quarter. However, compared to the same quarter of the previous year, a 5.3% sales growth and operating profits increased by 222%

According to LG Innotek , “In spite of the global economic crisis, the BLU (Back Light Unit) from the LED business team, RFPCB and Package Substrate from the substrate business team and motors from the automobile components business team have yielded sales growth with enterprise-wide efforts that were made to help reduce costs, as a result, we retainprofit margins.”

LG Innotek announced, “In the 3rd quarter, we expect our partner client’s new product to be launched and consequential increase in the demand for relevant components. To prepare for this, we are focusing on maintaining a stable supply of major components and expanding our sales.”

In addition, LG Innotek is expecting to be competitive in the next-generation growth business, supporting business structural advancements and is planning to promote quality, innovation, and cost competitiveness throughout respective sector in the company.