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Wednesday, October 21, 2009

LG reports record revenue and profits

LG Electronics has reported its highest-ever third quarter earnings. Global sales were up 15.7% year-on-year to 13.9 trillion Korean Won (£7.1 billion) year-on-year, while operating profit was up to KRW 850 billion (£437 million).

Handset sales accounted for KRW 4.38 trillion (£2.25 billion), up 24.8% from from the same quarter in 2008 (although down on Q2 2009), with operating profit reaching KRW 384 billion (£197 million). Handset shipments were up 37% year-on-year (and 6% on the previous quarter) to 31.6 million units, despite a slight decline in North American and Korean sales volumes. [Full details (pdf)]

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