LG Profits Take A Nose Dive

Life may not be so good for LG, with fourth quarter profits falling well below expected levels. Business Week is reporting that the Korean manufacturer’s profits were 85% lower than 4Q 2006. Blaming the decline on falling market prices, LG claims severe competition in the LCD T.V. market negatively affected their bottom line. With a number of new handsets on the horizon, perhaps the world’s 5th largest handset manufacturer can begin to rely more on their mobile communications division, with solid sales of the Chocolate, as well as a number of low-end clamshells giving them a helping hand. KE850 anyone?

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