LG goes back to profitability in Q1 2012

LG goes back to profitability in Q1 2012
After two consecutive quarters of losses, LG has finally swung back to profit in the first quarter of 2012. The Korean company reported strong performance of its handset division, but the biggest part of the successful quarter came to improved supply chain management for the company’s TV lineup.

LG posted a net profit of nearly $213 million (KRW 243 billion) in Q1 2012. Other financial results it reported include:

- operating profit of around $396.1 million (KRW 448 billion) 
- on revenues of some $10.8 billion (KRW 12.2 trillion)

LG explained that its feature phone business went into decline, but high-end Android phones kept LG afloat in South Korea:

"Although revenue was down due to shipment decline of feature phones, with strong sales of Optimus LTE and Optimus Vu in Korea, smartphone revenue increased," LG explained.

When it comes to next quarter, the company forecasts better demand for its TVs related to the London Olympics, while its phone business is expected to remain flat as "total demand for handsets is not expected to grow fast."

source: LG (PDF) via TheVerge

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8 Comments

1. darktranquillity

Posts: 285; Member since: Feb 28, 2012

Give us good phones with timely updates then your smartphone business won't be flat.

2. u-suck-more

Posts: 529; Member since: Aug 26, 2011

Congrats LG (:

3. simonfrady

Posts: 25; Member since: Dec 26, 2011

just upgrade your all phone to Ice cream .

4. GENARAL.LEVY

Posts: 93; Member since: Apr 17, 2012

Right.

5. mercorp

Posts: 1045; Member since: Jan 28, 2012

Those profits came from their tv and non handphone tuition. lg builds smartphones that are rip-offs of samsung.they were simply lucky to make a profit. the galaxy s3 will screw the 4x up.

6. u-suck-more

Posts: 529; Member since: Aug 26, 2011

sour grapes. LG smartphone revenue more than tripled in case u cant read. and let us rmb, Samsung copies Apple which copies LG, so yea.. LG doesnt copy Samsung

7. khanmhsn

Posts: 25; Member since: Apr 11, 2012

maww.come on man samsung copies LG!!?....optimus vu was released after galaxy note.....and is a total flop.

8. u-suck-more

Posts: 529; Member since: Aug 26, 2011

I never said Samsung copies LG. Please learn to read properly.. The Optimus Vu is different from the note esp in its design. And the Note, is a copy of the Dell Streak. And in case u can't read again, the article said 'success of Optimus LTE and Optimus Vu' so it isn't a flop

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