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Wednesday, April 28, 2010

LG Electronics publishes quarterly results

LG Electronics has published its financial results for the three-month period ending 31st March 2010. Overall first quarter 2010 sales were worth KRW 13.7 trillion (£8.1 billion) with operating profit of KRW 529 billion (£311.9 million); both figures show a small year-on-year increase.

However, LG's mobile business (the LG Mobile Communications Company) posted a year-on-year sales revenue decrease of 19.4%. Operating profit dropped year-on-year to 0.9% – and handset sales were down 19.7%, although handset shipments were up to 27.1 million units. The company says it to improve sales and profitability through new smartphone launches and the expansion of global platform models.

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Author: The Fonecast
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