Sunday, June 25, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Parts of Windows 10 Source Code Leaked Online
Hackers Attacked U.K. Parliament
Google Promises to Stop Reading Your Emails in Gmail
BlackBerry's Software and Services Sales Fell in Q1
Handsets Expected to be Largest Market for ICs
G.SKILL Announces New DDR4 for the Intel X299 HEDT Platform
Toshiba Open to Further Talks With Western Digital About Chip Unit Sale
Foxconn Confirms US Investment Plan
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 > Consumer Electronics > LG Post...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, October 26, 2011
LG Posts Loses In Third-Quarter 2011


The sluggish global economy affected LG Electronics' overall sales in the quarter, while losses on investments in affiliated companies led to a quarterly net loss.

However, due to cost controls and efficiency improvements, operating income improved for all four companies compared with the same period last year, the company announced today.

LG posted consolidated third quarter 2011 revenues of KRW 12.9 trillion (USD 11.92 billion) a 4 percent decrease from the same period last year. The company reported an operating loss of KRW 32 billion (USD 29.57 million) versus a third-quarter 2010 operating loss of KRW 185 billion (USD 156.12 million).

"The KRW 414 billion (USD 382.62 million) net loss in the quarter was mainly due to a loss on investments in affiliated companies and net financial expense," LG said.

LG's Home Entertainment Company shipped 6.8 million flat panel TVs from July to September, the most ever in the third quarter. Revenues decreased 7 percent from the previous year to KRW 5.37 trillion (USD 4.96 billion) as a result of weaker consumer sentiment in the global market. Operating profit improved 17 percent over the previous quarter to KRW 101 billion (USD 93.35 million) due to a stronger premium product mix of CINEMA 3D TVs and LED LCD TVs.

LG Mobile Communications Company sales decreased 8.5 percent year-on-year to KRW 2.76 trillion (USD 2.55 billion). The company posted an operating loss of KRW 139 billion (USD 128.47 million). LG plans to focus on the smartphone business and increase sales of LTE (Long Term Evolution) handsets with the launch of the Optimus LTE to drive sales and profit improvements in the quarters ahead.

LG Home Appliance Company posted sales of KRW 2.7 trillion (USD 2.5 billion) in the third quarter, a 1 percent increase from the same period the year before, thanks to strong sales in emerging markets along with the growth of more energy-efficient and smarter products. Despite an increase in raw materials prices and appreciation of the Korean won, the company still managed to improve operating profit by 11 percent to KRW 70 billion (USD 64.7 million) from the same period the year before.

LG Electronics expects to see modest growth in the coming months with competitive LTE smartphones, CINEMA 3D TVs and consumer-friendly, energy efficient appliances. The company will also focus on strengthening profitability through more aggressive cost control and better allocation of resources.


Previous
Next
Nokia Showcases Its First Windows Phones, Services and Accessories at Nokia World        All News        RIM Playbook PlayBook Update
Google Updates Google TV     Consumer Electronics News      RIM Playbook PlayBook Update

Get RSS feed Easy Print E-Mail this Message

Related News
LG G6 Plus Model Gets 128GB Memory Boost
LG Launches New Curved UltraWide Gaming Monitor With NVIDIA G-Sync And 144Hz Capabilities
LG Establishes New Robotics and AI research Divisions
LG Pay Officially Debuts in South Korea
LG Electronics to Finally Launch LG Pay in June
LG Display to Showcase Latest Displays at SID 2017
LG X Venture Smartphone Will is Built for Adventure
LG X Power2 Smartphone Launches Globally
LG Electronics Gains Some Market Share In the US Smartphone Market
LG Said To Prepare Mini-version of Flagship G6 Smartphone
LG Electronics Sees 10 Percent Jump in Sales and Highest Operating Income Since 2009
LG Display Posts Record Earnings on OLED TV Sales

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 .