LG Electronics announced their quarter results recently and they are unfortunate the state that they have suffered record losses. The company credits this problem due to the slump in the global demand for HDTVs. This reduction has hit several TV manufacturers around the world, but LG seems to be one of the hardest hit with an estimated Â£271 million ($432 million) lost. The company is not discouraged though and they expect the TV market to stabilize and show better results near the holiday season. Analysts also think that even though LG suffered record lows, they are still in better shape than other manufacturers to survive the economic downturn.
[via HDTV Test]