Friday, November 24, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung Foundry in Advanced Discussions With New Customers for 7nm Chips
Tesla Finished Installing the World's Largest Mega-battery in Australia Within 100 Days
Apple Applies for Patent on Foldable Display
HP Patches Code execution Bug in Enterprise Printers
YouTube Takes More Steps to Tackle Down Videos Inappropriate for Minors
Broadcom Considering Increasing Qualcomm Bid
Facebook Will Notify you if you Have Followed Russian Propaganda
Russia Threatens to Block Ads on Google
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > LG Elec...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, July 27, 2017
LG Electronics Reports Second Quarter Profit Although Its Mobile Business is Still Slow


LG Electronics on Thursday said continued losses in its mobile unit limited growth in second-quarter profit to 13.6 percent, as the firm prepares to release a handset in the third quarter. But the new mobile device will be going against Apple's iPhone 8 and Samsung Electronics' Galaxy Note 8.

The firm said operating profit reached 664 billion won ($597 million) in April-June, in line with its estimate earlier in July. Revenue rose 3.9 percent to 14.6 trillion won, also in line with its estimate.

The firm's mobile division reported a 132 billion won loss, its ninth consecutive quarterly loss, hit by lackluster sales of its flagship G6 smartphone.

LG's appliance division reported operating profit of 466 billion won, steadied by brisk sales for high-end products such as washing machines and refrigerators, as well as lower costs of materials used commonly among its products.

LG said its TV business booked a 343 billion won profit, as higher panel costs were offset by growing demand for up-market sets such as organic light-emitting diode (OLED) panel TVs that offer bigger margins.

The LG Vehicle Components company continued its growth with second-quarter sales of KRW 882.6 billion (USD 781.7 million), an increase of 38 percent from the same period in 2016, in large part due to the success of its telematics business and components for the recently-launched Chevrolet Bolt electric vehicle in the United States. Investments in new business areas such as advanced driving assistance systems (ADAS), resulted in an operating loss of KRW 16.4 billion (USD 14.5 million) for the quarter.



Previous
Next
Samsung Electronics Reports Record Profit, Expects High Chip Demand        All News        HTC VIVE Develops Premium Standalone VR Headset for the China Market
Samsung Electronics Reports Record Profit, Expects High Chip Demand     General Computing News      HTC VIVE Develops Premium Standalone VR Headset for the China Market

Get RSS feed Easy Print E-Mail this Message

Related News
Samsung, LG Comment on USITC's Tariffs to Curb Washer Imports
LG Electronics Launches the ThinQ Hub AI Speaker
Mid-range LG X401 smartphone Has a Wide-angle Front Camera
LG Joins Amazon's Lineup of Prime Exclusive Phones
LG Electronics Reports Strong Q3 Earnings Despite Losses in Its Smartphone Business
LG Display to Boost OLED Production to 2.5 mn Units
LG Electronics Introduces Floating PJ9 Bluetooth Speaker
Samsung and LG Showcase Next-generation Displays at IMID 2017
LG, Qualcomm to Jointly Develop Connectivity Solutions for Autonomous Cars
LG's Q3 Operating to Rise on Strong TV and Home Appliances Sales
LG V30 and V30+ Smartphones Coming in the U.S.
Both LG and Samsung Invest EUR25 million in OLED Material Developer Cynora

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .