Thursday, October 23, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google Is Teaming up with Oxford University on Artificial Intelligence
Bonhams Sells Apple Computer For 905K
BofA Double-Charged Apple Pay Customers
Microsoft To Retire The Xbox Music Streaming Feature
Xiaomi To Move User Data Out of China On Privacy Concerns
SK Hynix Reports Record Profit
Sonos Sues Denon Over Wireless Speaker Patents
Apple To Stop SSL 3.0 Support For Push Notifications
Active Discussions
Copied dvd's say blank in computer only
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
 Home > News > Mobiles > LG Prof...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, July 18, 2005
LG Profit Plunges 70% as Mobile Phones Post 1st Loss


LG Electronics, the world's fourth-largest maker of mobile phones, posted a 70 percent drop in quarterly profit as competition from Nokia and other companies drove LG's handset business to its first loss.

Second-quarter net income fell to 151 billion won ($145 million) from 493 billion won a year earlier, Seoul, South Korea- based LG said in a regulatory filing. Operating profit fell 63 percent to a lower-than-expected 144 billion won and revenue dropped 7 percent to 5.6 trillion won.

LG forecasts the "difficult" business environment to continue in the current quarter, underscoring how the company is being forced to cut prices to keep up with Nokia, Motorola Inc., and other mobile-phone makers in a slowing industry. Samsung Electronics Co., the world's third-largest handset vendor, last week posted a lower-than-expected profit from telecommunications, citing increased competition.

Operating loss from mobile phones, the first since the company was reorganized in 2002, was 4 billion won, compared with a profit of 123 billion won a year earlier. Including network equipment, the telecommunications division's second-quarter operating profit plunged 94 percent to 8.4 billion won, LG said in a press release.

Mobile phone sales fell 5.2 percent to 1.8 trillion won, or 12.1 million units, the company said. The company missed its mobile phone shipment target for a second consecutive quarter.

The company's display business, including sales of plasma display panels, posted a 22 billion won loss and sales fell 2.3 percent to 1.2 trillion won.

As growth in demand for new handsets slows in countries such as the U.S. and Japan, industry shipments are poised to rise 8 percent this year after jumping 32 percent to 680 million units last year, according to Strategy Analytics.

Samsung last week reported operating profit from telecommunications declined 33 percent to 530 billion won, missing analysts' estimates of 630 billion won. The company cited increased competition for driving down prices.

Sony Ericsson Mobile Communications Ltd., the cellular-phone venture owned by Sony Corp. and Ericsson AB, on July 15 posted a 19 percent drop in second-quarter profit as it introduced lower- priced handsets to win customers.


Previous
Next
European Commission Prompts Countries to Increase Wi-Fi Spectrum        All News        Philips Proposes LED StreetLamps
Mobile Video is a Tough Sell According to In-Stat     Mobiles News      Infineon Introduces Cheap Production Platform for Mobiles

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
LG Conducts Field Tests Of Futurecast TV Broadcast System
LG Display Reports Strong Third Quarter 2014 Results
LG Ultra-Portable HD MiniBeam Projector Features Built-in Battery
LG Registers 'frame' Trademarks For New Handsets
LG Brings Its Ultra HD 4K OLED TV To The U.S.
LG Unveils The F60 LTE Smartphone
LG To Launch New Smartwatch With 3G Connectivity
LG Partners With Microsoft On IoT Devices
Korean Authorities To Inverstigate LG-Samsung Dispute
LG G3 Stylus Debuts
LG L Fino and L Bello Boast Smartphones Are Rolling Out
LG Doubling The Battery Life For G3

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .