LG pumps capex into ailing handset unit - Mobile World Live

LG pumps capex into ailing handset unit

08 NOV 2011

LG Electronics has set its capex target for next year at KRW1.15 trillion (US$1.03 billion), reports Dow Jones Newswire, with more than 50 percent of the investment to go towards its unprofitable handset business. The announcement came days after the company said its board approved a plan to raise KRW1.0621 trillion via a rights offering. The capital spending will mostly be financed by the offering, with the remainder financed with cash, a company spokeswoman said.