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Thursday, October 25, 2012

LG quarterly results show mobile business performing above expectations

LG Electronics has reported results for the third quarter of 2012, noting that better-than-expected performance from its mobile and home appliance businesses helped offset a slight drop in year-on-year sales figures.

Net profit for the quarter was 157 billion South Korean Won (£88.75 million) - a significant improvement from last year’s loss - while quarterly revenue fell 4% year-on-year to KRW 12.38 trillion, blamed on the decline of feature phone sales and overall weak demand.

LG Mobile Communications Company, the company’s mobile device business unit, saw 4G LTE smartphone sales push operating profit to KRW 22 billion. Revenue reached KRW 2.45 trillion, up from the previous quarter but down year-on-year, with shipments exceeding 14 million units.

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Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 2943

Tags: 4g LTE lg

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