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Tuesday, October 10, 2017
LG's Q3 Operating to Rise on Strong TV and Home Appliances Sales


LG Electronics said Tuesday its operating profit is estimated to have shot up 82.2 percent on-year in the third quarter, helped by its home appliances and TV businesses.

LG said that tentative consolidated revenues for the third quarter of 2017 is nearly KRW 15.2 trillion with an operating profit of KRW 516.1 billion. The company expects revenues to be 15.2 percent higher with operating profit 82.2 percent higher than the same period the year prior.

The third-quarter operating income marks the highest for its third-quarter performances since the July-September period of 2009.

LG did not offer a net profit estimate for the third quarter, as well as breakdowns for each segment. The South Korean tech giant is set to unveil its finalized earnings later this month.

The company is expected to have enjoyed a robust performance of its home appliances and TV businesses, while its mobile division is presumed to have suffered continued losses, probably marking the 10th consecutive quarter for LG to post operating losses in the sector.

The expected slump in LG's mobile business unit is attributable to increased marketing costs following the release of the flagship V30 smartphone. The sluggish sales of the G6 smartphone released in the first half also might have weighed down on the mobile division.

LG's V30 smartphone went on sale in late September.



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