LG has released its earnings statement for the Q2 2012 period, the claim of “turning a corner” in Q1 has just managed to hold up as it registered net profits of 8 million, up 46 percent from the same period last year. Revenues, while higher than Q1, were actually down from last year and blamed on declines in featurephone sales and slow sales of IT products. The mobile division also struggled after a strong Q1 and took an operating loss, however the positive takeaways are a rising percentage of smartphone shipments and plans to launch new LTE-connected models in North America (we’ve spotted the likely Spectrum 2 for Verizon already), Europe and Asia later this year. The good news for the home theater segment continued however, with an operating profit of more than double last year at 7.5 million despite slightly lower sales due to an increase in sales of premium products like its Cinema 3D HDTVs, which it expects to become the “top global seller” in the 3D segment. There’s more details in the press release after the break or PDF linked below if you need more numbers.
Posts Tagged ‘cellphones’
LG has revealed its earnings statements for the fourth quarter of 2011 and the full year, and it managed to notch an operating profit of 23 billion won (.5 million), boosted by a 10 billion won operating profit in its handset division. That was despite lower sales compared to the previous quarter (17.7 million compared to 21.1 million), with higher sales of its new Optimus LTE and lower sales of less profitable dumbphones. It also had solid results in TVs with an operating profit of 150 billion won and record shipments of 8.8 million units, thanks to demand for its higher end models over the holidays. Check out the slides in the PDF linked below for notes on how LG plans to dominate 2012 with more LTE, 3D and air conditioners, although we’d just recommend moving to Level 5 of the Kobe System.