Saturday, December 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Kodak Returns To CES With Consumer Product Line
North Korea Suggests Joint Inverstigation With U.S. Over Sony Hacking
T-Mobile to Pay $90 Million To Settle Case With FCC
New Trojan Targetted Banks Wordlwide
FBI Confirms North Korea Was Behind Sony Hack
Apple Responds To BBC's Allegations Over Working Conditions In Chinese Factory
BlackBerry Returns To Cash Flow
Comparison: Quantum Dot Vs. OLED Displays
Active Discussions
Digital Audio Extraction and Plextools
Will there be any trade in scheme for the coming PSP Go?
Hello, Glad to be Aboard!!!
Best optical drive for ripping CD's? My LG 4163B is mediocre.
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
 Home > News > General Computing > LG Elec...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, July 24, 2014
LG Electronics' Strong Profit Boosted By G3 Success


LG Electronics reported its biggest quarterly profit in five years on improvements in its once-ailing smartphone business.

Operating profit during the April-June period was 606 billion won, up from 26.5 percent a year earlier. This was the biggest quarterly profit since the 851 billion won reported in the third quarter of 2009.

Revenue during the second quarter was 15.37 trillion won, an increase of 0.9 percent year-on-year, the company said.

"Our smartphones sold strongly in target markets," it said in a statement. LG shipped 14 million smartphones during the latest period, a quarterly record. Thanks to that, profit at its handset division was a reported 85.9 billion won from an 8.8 billion won operating loss the previous quarter.

"Despite increased spending on marketing activities, LG fared very well. We saw a meteoric rise in the United States in profit for smartphones. Thanks to our diversified product portfolio, we are positive about the outlook in the second half," said LG.

LG's Home Entertainment company saw steady performance with second-quarter revenues of KRW 5.09 trillion (USD 4.94 billion), a 3 percent increase quarter-over-quarter and almost unchanged from the same quarter 2013. Operating profit was increased by 64.9 percent from the same quarter last year as a result of better product mix and lower fixed costs. LG says that demand for Ultra HD TVs in key markets will continue to drive LCD TV revenue growth. The B2B market, led by monitors and digital signage, is also expected to contribute to LG's growth in this segment.

The LG Mobile Communications company shipped a record-high 14.5 million smartphones in the second quarter, a 20 percent increase year-over-year with LTE products accounting for more than one-third of all LG smartphones sold this year. As a result, sales increased 16 percent from the same period last year to KRW 3.62 trillion (USD 3.51 billion), the highest since the first quarter of 2010. The mobile division's operating profit of KRW 85.9 billion (USD 83.4 million) in the second quarter put an end to three consecutive quarters of losses. Much of the success was due to the initial popularity of the LG G3 in the Korean market and strong sales of L SeriesIII smartphones. LG plans to continue its global rollout of the G3 and introduce more mass tier products in the second half, including variations of the LG G3, such as the recently announced G3 Beat, and additional L Series models.

The home appliances and air-conditioning divisions also proved strong reporting a respective 97.8 billion won and 164 billion won in operating profits for the quarter.

LG said it will spend more for research and development (R&D) on market-leading products and technologies, and to find new growth engines.



Previous
Next
SK Hynix Says Chip Sales Remain Slow        All News        Samsung Introduces New Slim Optical Disc Burners
Qualcomm's Profit Hurt by Dispute Over China Royalties     General Computing News      Apple OS X Yosemite Bets Coming on Thursday

Get RSS feed Easy Print E-Mail this Message

Related News
WebOS 2.0 Smart TV Platfom To Debut At CES
LG, Samsung, To Dominate The TV Market in 2015
LG G3 Gets NSA Security Certification
LG Electronics Streamlines Structure, Names New Presidents of Home and Mobile Segments
AT&T and LG Collaborate On Connected Cars
LG Electronics to Bring Bendable Screens To Future Smartphones
LG AKA With Launched With Mood Cases
Flagship LG G3 Smartphone to Receive Lollipop Upgrade Next Week
Google and LG Enter Cross-Licensing Agreement
LG Display Develops World's Narrowest FHD LCD Panel for Smartphones
Smartphone Shipments Boosts LG Electronics Earnings, Cinema 4K Monitor Introduced
LG Introduces Its First Octa-Core Application Processor

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 .