LG

LG Mobile registers 20% decrease in sales in Q1 2010

LG Mobile registers 20% decrease in sales in Q1 2010
Many companies announce their results for the first quarter of each year in the second half of April. The situation seems grim at LG's handset division, given the 20% slump in sales in January-March 2010 as compared to the same period of 2009. We are somewhat surprised at the result, since everything was coming up roses in Q4 last year, when sales hit the record 33.9mln. units sold. The volume now seems to have shrunk with nearly 6.8mln. to 27.1mln. cell phones. 

As a whole, however, the operating profit of LG's mobile division for the first quarter of 2010 remains stable and there is neither major slump nor substantial growth alongside of the financial result registered in the last three months of 2009.

source: LG

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