South Korea's LG is suffering from a glut of flat screens and plunged into a worse-than-expected loss in the first quarter, fanning speculation that it might sell the plasma unit.

LG said last week it would halt one of its three domestic plasma panel lines and was reviewing several strategic options for the loss-making business.

LG's Chief Executive, Nam Yong, however, reiterated that LG would keep both plasma and LCD businesses to offer televisions in both standards.

"There will be no change to our business strategy for the PDP and LCD businesses," Nam told a news conference. "We'll keep the PDP and LCD camps and let them compete for consumers outside the company."

LG is expected to earn 78.9 billion won ($84.8 million) in net profit in the three months to June, according to 10 analysts surveyed by Reuters Estimates. It compared with a 9.7 billion won net loss a year earlier and a 122.6 billion won shortfall in the first quarter.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved