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Wednesday, April 25, 2012

LG quarterly results show a return to profit

The latest quarterly results from LG Electronics show the company returning to profit after two consecutive quarters of net losses. Quarterly revenue was KRW 12.2 trillion (£6.6 billion) while net profit reached KRW 243 billion (£131.9 million).

LG Mobile Communications Company, the mobile part of the LG business, saw overall revenue fall 14% year-on-year to KRW 2.5 trillion due to declining featurephone sales. However, it points out that operating profit jumped from KRW 12 billion in the previous quarter to KRW 39 billion as the proportion of smartphone sales increased.

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Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 707

Tags: lg

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