Wednesday, 24 October 2012

LG swings to profit in Q3

LG Electronics reports a net profit of 157 billion won (US$138.57 million) for the third quarter of 2012 as its mobile and home appliance businesses offset overall year-on-year decline in sales.
In its statement Wednesday, the South Korean electronics company said this is the third consecutive quarter which it has had a positive net income. It noted that this quarter saw "significant improvements" compared to the same period last year during which it registered a net loss of 414 billion won (US$374.8 million).
In its outlook for the fourth quarter, LG said it expects demand for mobile phones to increase with peak season but competition will intensify. It plans to maximuze its revenue with aggressive marketing activities for competitive products such as the Optimus G and Optimus Vu:2.

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