Wednesday, March 29, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
New Intel Xeon Processor E3-1200 v6 Product Family Targets Pros
Google Assistant Is Coming To More Connected Devices
Self-assembly Technique Could Solve Miniaturization Chip Making Issues
Prepare For Battle GeForce GTX Bundle Includes For Honor or Tom Clancy's Ghost Recon Wildlands Games
VIZIO's 2017 D-Series Smart TV Collection Includes 4K Ultra HD Support in Select Models
Facebook Attacks Snapchat With New Camera Features
China Tech Giant Tencent Buys 5 Percent Stake In Tesla
Hyundai Motor To Develop Its Own Automotive Chips
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 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
LG Sues BLU Products Over LTE Patents
LG's Mobile Payment Service Coming Soon
LG Tone Studio Wireless Wearable Is Rolling Out
LG G4 And V10 To Get Android 7.0 Update
LG Electronics To Build U.S. $250 Million Washing Machine Plant In Tennessee
LG Set To VR Head-mounted Virtual Reality Device With Valve
Meet The Sleek LG G6 Smartphone, Coming With A Large FullVision Display
LG 2017 Gram Notebooks Start From $999
LG X Power2 Smartphne Packs A 4,500mAh Battery And A 5.5-inch Display
LG's Super UHD TV with Nano Cell Technology Complements OLED TVs in The Company's Premium TV Lineup
LG G6 Praised for its Minimalism, Solidity, Ergonomics
New LG X400 Smartphone Launches In Korea

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 .