& cplSiteName &

LG Reports Q1

Light Reading
News Wire Feed
Light Reading

SEOUL -- LG Electronics Inc. (LG) today announced a 319 percent increase in first-quarter net profit compared with the same period last year. First-quarter 2014 net profit rose to KRW 92.60 billion (USD 86.62 million) while operating profit of KRW 504 billion (USD 471.47 million) marked a significant improvement from the previous quarter due to improved profitability from the LG Home Entertainment Company. Unaudited first quarter consolidated revenues of KRW 14.27 trillion (USD 13.35 billion) increased 1.2 percent compared to the same quarter in 2013.

The LG Home Entertainment Company reported first-quarter revenues of KRW 4.95 trillion (USD 4.63 billion), a 3 percent increase from the first quarter a year ago. Operating profit of KRW 240.30 billion (USD 224.79 million) exceeded expectations due to stronger sales of larger-sized TVs and better cost structure resulting from declining material prices. Revenues are expected to increase in the second quarter with new model launches. LG will continue to diversity its premium Ultra HD TV and OLED TV lineup with more sizes and price levels to offset greater competition.

The LG Mobile Communications Company shipped 12.3 million smartphones in the first quarter ― comprising 75 percent of all phones shipped ― an increase of 19 percent from the same period the previous year. LG’s shipment of 5 million LTE smartphones was the most ever in a single quarter, an increase of 79 percent year-over-year, accounting for 41 percent of all smartphone shipments in the quarter compared to 27 percent for all of 2013. Revenues of KRW 3.41 trillion (USD 3.19 billion) increased 6 percent year-on-year and operating profit margins rose quarter-on-quarter due to the launch of G Pro 2 in the domestic market and more efficient marketing spending. Higher revenues are expected in the second quarter with the release of the flagship LG G3 smartphone and wider roll-out of the mass-tier L Series III.

LG Electronics Inc. (London: LGLD; Korea: 6657.KS)

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
Ngena's global 'network of networks' solves a problem that the telecom vendors promised us would never exist. That doesn't mean its new service isn't a really good idea.
Flash Poll
Upcoming Live Events
March 28, 2018, Kansas City Convention Center
April 4, 2018, The Westin Dallas Downtown, Dallas
April 9, 2018, Las Vegas Convention Center
May 14-16, 2018, Austin Convention Center
May 14, 2018, Brazos Hall, Austin, Texas
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
Dell CTO: Public Cloud Is 'Way More Expensive Than Buying From Us'
Mitch Wagner, Mitch Wagner, Editor, Enterprise Cloud, Light Reading, 3/19/2018
IBM Faces Age Discrimination Accusations
Mitch Wagner, Mitch Wagner, Editor, Enterprise Cloud, Light Reading, 3/22/2018
Eurobites: Cambridge Analytica Feels the Heat
Paul Rainford, Assistant Editor, Europe, 3/20/2018
HR: Cable Dominates US Broadband
Carol Wilson, Editor-at-large, 3/21/2018
Animals with Phones
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed