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Wednesday, January 26, 2011

LG results show drop in 2010 mobile phone sales

LGLG Electronics has announced quarterly and annual results, recording a KRW 256.4 billion (£1.45 million) net loss in the fourth quarter of 2010. Figures for the year showed a net profit of KRW 1.3 trillion (£736 million) and revenues of KRW 55.8 trillion. Operating profit for the year was KRW 176.4 billion.

Its mobile business – the LG Mobile Communications Company – saw quarterly revenue increase 10.9% from Q3 due to strong sales of the Optimus One smartphone, although the figure was down 14.7% from Q4 2009. Compared with 2009, annual revenue from LG Mobile was down 23.9% year-on-year.

30.6 million handsets were shipped in the quarter, an 8% increase over the previous quarter but 10% down on the same quarter in 2009.

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