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LG ringing up the profits

LG will be looking to its new Shine phone to keep profits up

LG has announced huge sales for the end of 2006, making $2.5 billion (£1.6 billion) from its mobile phone division alone.

The firm beghind the popular Chocolate phone shipped over 64 million handsets worldwide, giving it a 2.3 per cent profit increase from the same period in 2005.

Elsewhere, the company's digital display division took in $1.3 billion (£700 million), boosted by increasing demand for both plasma and LCD TVs.

Between October and December LG made $5.8 billion (£2.7 billion), which added nicely to the $38.46 billion (£18 billion) made worldwide by the South Korean company for the whole of 2006.

LG announced its second Black Label mobile - the Shine - in London two week ago.