Friday, May 26, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
AMD Ryzen AGESA 1.0.0.6 Firmware to Enable Speedy Memory Clocks
Nvidia Introduces the GeForce MX150 For Laptops
Intel Dominates the Enterprise SSD Market
NVIDIA Introduces New GeForce GTX Battlebox
TSMC is Already Testing 7nm Chips, Coming Next Year
Microsoft's Beam Streaming Service Becomes "Mixer"
Lenovo Returns to Profitability
RICOH WG-50 Waterproof Digital Compact Camera Released
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Smartph...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, October 24, 2013
Smartphone Costs Keep LG's Third Quarter Results Low


LG Electronics reported its lowest quarterly profit for 2013 on Thursday as its mobile business slipped into the red due to the cost of marketing its latest smartphone.

The world's No.2 TV maker announced third-quarter 2013 consolidated revenues of KRW 13.89 trillion (USD 12.51 billion). While competitive conditions in the TV sector and an unfavorable foreign currency exchange rate affected overall revenues compared with the 2012 third quarter, sales of mobile devices increased year-over-year by 24 percent. LG saw a 27 percent increase in third-quarter operating profit to KRW 217.80 billion (USD 196.34 million) compared with the same period last year.

The LG Home Entertainment Company reported revenues of KRW 5.01 trillion (USD 4.50 billion), a 7 percent decline from the same period a year ago, reflecting slower global TV demand and lower selling prices. As it enters the holiday selling season, LG plans to expand global sales of premium products such as OLED TVs and Ultra HD TVs while continuing to carefully manage costs.

Global television manufacturers are betting bigger-ticket products such as ultra high-definition models and OLED lineups help counter slowing TV shipments, even if high production costs price them beyond reach for many consumers.

LG has slashed the price of its 55-inch UHD a couple of times this year. Even so they still sell for some 5 million won ($4,700), around double the price of standard LCD TVs.

The LG Mobile Communications Company's third-quarter revenues increased by 24 percent compared with the same quarter a year ago to KRW 3.05 trillion (USD 2.75 billion). The company shipped 12 million smartphones in the third quarter but profitability and average selling price were affected by increased competition and higher marketing investments. LG plans to focus on increasing sales of new premium products such as the LG G2 smartphone during the peak holiday season as well as maximizing 3G and mid-tier mass devices such as the L II Series and F Series.




Previous
Next
Samsung Applies For Electronic Glasses Patent        All News        Samsung Apologizes After China For Handset Glitches
Microsoft Says Apple's iWork Is 'Lightweight'     General Computing News      Internet Domain Names Expand In Chinese, Russian, And Arabic Languages

Get RSS feed Easy Print E-Mail this Message

Related News
LG Electronics to Finally Launch LG Pay in June
LG Display to Showcase Latest Displays at SID 2017
LG X Venture Smartphone Will is Built for Adventure
LG X Power2 Smartphone Launches Globally
LG Electronics Gains Some Market Share In the US Smartphone Market
LG Said To Prepare Mini-version of Flagship G6 Smartphone
LG Electronics Sees 10 Percent Jump in Sales and Highest Operating Income Since 2009
LG Display Posts Record Earnings on OLED TV Sales
LG X Power 2 Smartphone Packs A Huge Battery
Google Could Invest 1 tln won into LG Display's OLED Panel: report
LG Electronics Expects Profit Boost From On Healthy Sales Of Appliances and TVs
LG G6 Now Available Worldwide

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .