LG

LG registers $138.57 million net profit in Q3, mobile recovering with positive outlook

LG registers $138.57 million net profit in Q3, mobile recovering with positive outlook
LG Electronics continues steadily walking on its way to recovery in the third quarter of 2012, and has now reported a solid $138.6 million in net profit. Overall revenues however dropped 4% on the year to some $10.1 billion because of a persisting decline of feature phone sales. And overall in this case refers to the whole business of LG, including its household appliances and TVs.

What you'd care more about is mobile. LG is doing better than expected there, and has gone back to profit from being a loss-making company in the third quarter of last year. LG’s Mobile Communications Company division benefitted from good sales of LTE smartphones in Korea, Japan and the United States. The Optimus L series conquered new markets, also adding to the sales boost.

LG shipped more than 14 million devices in Q3 2012. This results in revenue of the mobile unit of around $2.16 billion and operating profit stands at some $19.4 million.

And best of all, LG has a positive outlook for the next quarter as well. That would be the Holiday quarter and LG has got one of the hottest devices out there, the quad-core LG Optimus G, bringing unmatched hardware muscle and being one of the most competitive offerings now.

source: LG



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