24 July 2013 07:56

LG Electronics Second-Quarter Profit Down

LG_L

SEOUL-- LG Electronics Inc. (066570.SE) reported on Wednesday an 8.0% on-year decline in net profit as a result of a squeeze in margins for its television business.

Net profit was 155.5 billion won ($139 million) for the April-June quarter--down from 169 billion won. Operating profit decreased 9.0% to 479.3 billion won from 526.7 billion won.

A better performance from mobile telephones and solid seasonal demand for air conditioners softened the extent of profit decline from the previous quarter when it fell 91%.

The company sold 12.1 million smartphones--more than twice the 5.7 million units shipped a year ago.

Total revenue for the quarter ended June 30 rose 10.1% to 15.23 trillion won.

"Competition in the TV market will stiffen in the third quarter amid bleak demand," the company said in a statement. It will try to improve performance with top-end models like ultra-high definition TVs.

LG is betting increasingly on its mobile unit to drive profits--particularly with its next-generation flagship dubbed the G2 slated for launch in early August. Expectations for TVs remain low because of weak demand.

Demand for LG's fancy but expensive TVs with organic, light-emitting diode screens won't pick up soon because of the price tag, analysts said.

The mobile-telephone unit accounted for 20.5% of sales while televisions accounted for 36.1%. Operating profit margin for mobile phones was 2.0%. Margins for TVs thinned to 1.9% from 5.5%.

Write to Min-Jeong Lee at min-jeong.lee@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 24, 2013 02:15 ET (06:15 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

 

Comments

#1 | Friday 5 Dec (12:01)
they will have to do better things and should use the best of the technologies in future..fun bingo and also the great new bingo deals for any kind of bingo gaming.
#2 | Wednesday 5 Apr (09:33)
A very awesome blog post. We are really grateful for your blog post. combat, law enforcement You will find a lot of approaches after visiting your post. I was exactly searching for. Thanks for such post and please keep it up. Great work. buy dissertation UK

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
14 Oct
PNDORA
Har efterhånden læst mange indlæg om Pandora her på Euroinvestor. De fleste indlæg er enten beregne..
21
11 Oct
MATAS
  Jeg har længe fulgt med i Matas’ forretningsmæssige udvikling, fordi selskabet er udsat for mange ..
20
13 Oct
PNDORA
Det ligger klart for enhver at med vaekst rater over 10 procent om aaret, som vedholdende vil blive ..
16
16 Oct
VWS
Kommentarer, hvorfor anvender du nu en periode på 13 måneder, når du ser tilbage for at sammenligne ..
11
17 Oct
I:DAX
Suspenderer sikkert al sikkert al handel i Frankfurt  hvis den falder -0,3% Hvad hedder det så hvis..
10
14 Oct
VWS
Earlier this year, China's National Energy Administration announced it would spend $363 billion by 2..
10
13 Oct
VWS
Kommentarer, du svarede ikke på mit indlæg til dig sidst. Måske du ikke så det? Jeg stillede spørgsm..
10
16 Oct
OMXC25
Jeg har fuldstændig mistet enhver form for respekt for EU.   EU er i den grad blevet til en taberfor..
9
16 Oct
VWS
Hej Kommentarer. Dejligt du lige kan påminde os om, hvordan kursudviklingen har været, det har været..
9
15 Oct
VWS
Skotland's nationalist party har i denne uge annonceret at de arbejder frem imod at lave et nyt stat..
9

Admiral Group PLC : Director/PDMR Shareholding

29/09/2017 14:53:59
NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM 1 Details of the person discharging managerial responsibilities (PDMR)/person closely associated with them (PCA) a) Name Annette Court 2 ..

Man Group PLC : Form 8.3 - [Clinigen Group plc]

29/09/2017 12:19:01
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Man Group Plc (b) Owner or controller..

Invesco Ltd. : Form 8 (DD) - IP Group Plc

29/09/2017 10:46:56
                                                            FORM 8 (DD) PUBLIC DEALING DISCLOSURE BY A PARTY TO AN OFFER OR PERSON ACTING IN CONCERT (INCLUDING DEALINGS FOR THE ACCOUNT OF DISCRETIONARY INVESTMENT CLIENTS) Rules 8.1, 8.2 and 8.4 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
NAVIENT SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Navient Corporation - (NAVI)
2
Boston Test of Self-Driving Cars Reveals Five Key Lessons for Cities Worldwide
3
XBT PROVIDER AB - UPDATE IN CONNECTION WITH BITCOIN CASH
4
Plan a Cruise Month, Week Three: Cruise Lines International Association (CLIA) Shines Spotlight on Australasia Cruise Travel
5
Smithfield Foods’ Helping Hungry Homes® and Kroger Donate More Than 39,000 Pounds of Protein to God’s Pantry Food Bank

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
18 October 2017 04:45:35
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20171017.1 - EUROWEB7 - 2017-10-18 05:45:35 - 2017-10-18 04:45:35 - 1000 - Website: OKAY