Friday, April 18, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
HTC Hired Ex-Samsung Marketing Officer
Xbox One Wolrdwide Sales Cross 5 million
Samsung Works With GLOBALFOUNDRIES On 14 nm FinFET Offering
Facebook To Find Nearby Friends
Console Sales Lift AMD's First Quarter Results
LG Expands 'Second Screen' TV Ecosystem With Open-Source SDK
Amazon Announces Kindle Service For Samsung Devices
Nokia Halts Sales Of Lumia 2520 Tablet
Active Discussions
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
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > General Computing > Slow TV...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, April 24, 2013
Slow TV Sales Pull Down LG's Profit


LG Electronics said Wednesday its first quarter earnings shrank compared to the previous quarter as its TV business was slow, despite a recovery in its mobile operations.

LG said it shipped 10.3 million smartphones between January and March, the highest for LG since it entered the smartphone race.

First-quarter operating profit of KRW 350 billion (USD 322.88 million) and net profit of KRW 22 billion (USD 20.30 million) declined somewhat from the same period last year. However, revenues in the first quarter rose 6.8 percent year-over-year to KRW 14.10 trillion (USD 13.01 billion) mainly due to the improved performance of the mobile business.

LG's Home Entertainment company revenues of KRW 5.17 trillion (USD 4.77 billion) declined year-on-year due to lower sales of plasma TVs and IT products. Sales of LCD TVs increased in Europe and developing markets such as China and CIS from the same period last year. Operating profit of KRW 30 billion (USD 27.68 million), although lower than last year, increased compared to the previous quarter. Although TV and IT market will continue to be stagnant , LG expects stronger results with the rollout of new 3D Smart TVs and ULTRA HD TVs.

LG Mobile Communications company results improved significantly in the first quarter, recording revenues of KRW 3.21 trillion (USD 2.96 billion) on smartphone shipments of 10.3 million units, an increase in revenue of 28.5 percent from the same period last year. Healthy sales of LTE smartphones such as the Optimus G and Optimus G Pro along with 3G smartphones including the Optimus L Series and Nexus 4 contributed to the improved results. Operating profit increased almost four-fold from the same period last year to KRW 133 billion (USD 122.69 million) thanks to stronger revenue and better cost structure. The company expects to further increase shipments and sales in the second quarter with the worldwide rollout of Optimus L SeriesII targeting 3G markets with the 5.5-inch Full HD IPS Optimus G Pro and Optimus F Series in countries with 4G LTE networks.


Previous
Next
LG Applied For Head mounted display Patent        All News        Nintendo Returns To Profit, Expects Strong Wii U Sales
LG Applied For Head mounted display Patent     General Computing News      Toshiba to Buy Assets of Bridgelux

Get RSS feed Easy Print E-Mail this Message

Related News
LG Expands 'Second Screen' TV Ecosystem With Open-Source SDK
LG G3 Rumored To have A 1440x2560 Display
HARMAN KARDON To Enhance Sound In LG's OLED annd Ultra HDTVs
LG G2 Mini Launches Globally
LG Smartphones To Get Knock Code Upgrade
LG New Sound Bar Launching In Korea
New LG Lightbulb Is Smart Enough To Connect To Your Phone
LG G PRO 2 In Shipping in Asia
LG's 2014 TV Linep Is Rolling Out
LG L90 Smartphone Heading To Russia
LG E985T TD-LTE Smartphone Debuts In China
LG Targets New LTE Smartphone Users With F70 Smartphone

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 .