Friday, March 27, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Intel in Talks to buy Altera: report
MediaTek Releases New High-end Smartphone Helio SoC
Google To Get Into The Operating Room
Data Requests To Microsoft Decreased
Google Defeated in English Court - Decision Opens Door for Litigation by Millions of British Apple Users
LG G4 Smartphone Coming Late April
BlackBerry Posts Quarterly Profit
AMD Showcases DirectX 12 Performance in new 3DMark API Overhead Feature Test
Active Discussions
how to copy and move data files to dvd-rw
cdrw trouble
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
 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 G4 Smartphone Coming Late April
New LG Minibeam Projectors Deliver Portability and Viewing Enjoyment
LG AKA Starts Shipping Outside South Korea
LG to Launch G Note Phablet
LG To Launch New Flagship Smartphone
LG's Products Featured in Italdesign Giugiaro's Gea Concept Car
LG 's 2015 OLED And LED 4K ULTRA HD TVs Now Available in The U.S.
New LG Watch URBANE Has LTE Connnectivity
LG G Flex2 Begins To Roll Out Globally
LG To Focus On Premium TV Market
LG Announces New Mid-range Smartphones Ahead Of MWC
Full Metal LG Watch Urbane Smartwatch Coming to MWC 2015

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .