LG has reported a 3.7 per cent jump in sales to KRW 13.7 trillion (around £8.1bn) in its first quarter ending March 31.

The group also saw its operating profits grow by 2.6 per cent to KRW 529bn.

Demand for flat-panel TVs helped to boost revenues at LG’s home entertainment company by 20 per cent to KRW 5.2 trillion and operating profit to KRW 182bn.

LD TV shipments, said the company, soared 62 per cent to 5.2m units compared with a year ago.

Home appliances put in a positive performance with eight per cent year-on-year growth with sales at KRW 2.4 trillion and operating profit at KRW 207bn.

Not so good was news from the air conditioning company (where sales fell six per cent year-on-year) and the mobile communications company (where sales fell 19.4 per cent.

Looking ahead, the company said it expected to see growth in the second quarter of this year with the global economic recovery and the start of the high season for the air-conditioning business.

“LG will continue to introduce new products in major categories including smartphones, invest aggressively in R&D and marketing and develop premium products in order to secure its position in respective categories,” it said.