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LG ends up in Q3 2012

LG ends up in Q3 2012

LG officially announced its financial results for Q3 2012, namely those relating to the period of time from July to September 2012, an increase of sales in the mobile industry at the expense of policy weak / absent updates for its devices.

LG Mobile Communications, in fact, closed the third quarter with total revenues of U.S. $ 19.42 million out of a total of 2.16 billion, a figure which rose by 5% in the fourth quarter year to date, selling 14 million smartphone with an increase of 9% over the previous quarter. The majority of smartphones, in any case, have been sold in Korea, USA and Japan, but it is LTE smartphone.

In total, LG had revenues of 195.06 million dollars and be able to have a lot of revenue and to be all things growing, and was very difficult for the company. This can make us realize how LG has endeavored to produce excellent products that have convinced people to buy. Unfortunately, LG has yet to understand one very important thing, that the software support with their devices. Sorry to repeat but unfortunately the facts speak for themselves.

Surely, with the new Nexus 4, LG will be able to be seen in a different light because it will be the official Google Android device then will enjoy secure updates from Google. And just from Google that LG could "learn" as, inter alia, Samsung has tried to do, in making software updates and support via their devices. We hope that is so.

We leave you, finally, to the official statement from LG regarding financial results for Q3 2012.

Spoiler Inside:

LG Announces THIRD-QUARTER 2012 FINANCIAL RESULTS

SelectShow SEOUL, Oct. 24, 2012 – LG Electronics (LG) today reported a solid third-quarter performance with the third consecutive quarter of positive net income and all four companies recording strong operating profits. Better-than-expected performance in the mobile and home appliance businesses helped offset a slight decline in overall year-over-year sales for the third quarter.

Third-quarter net profit of KRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) Showed significant improvements from the loss in the same period last year. Third-quarter revenues fell 4 percent year-over-year to KRW 12:38 trillion (USD 10.93 billion) for two to the continuing decline of feature phone sales and overall weak demand.

LG Home Entertainment Company third-quarter 2012 sales of KRW 5:49 trillion (USD 4.84 billion) were led by an Increase in LCD TV sales, offsetting sluggish global demand. Percentage sales Attributed to 3D TVs and LED TVs increased At quarter-on-quarter with unit sales growing in most regions. IT products led by IPS monitors and monitor TVs increased At Also from the previous quarter. Operating profit of KRW 89 billion (USD 78.55 million) was unchanged from third quarter 2011. In the fourth quarter, the company plans to INCREASE sales of LCD TVs by expanding marketing of CINEMA 3D Smart TVs and enhancing its premium brand positioning with the new Ultra HD TV.

LG Mobile Communications Company Significantly improved in the 2012 third quarter, recording operating profit of KRW 22 billion (USD million 19:42) two in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In Additions, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased At by 5 percent quarter-to-quarter to KRW 2:45 trillion (USD 2.16 billion) as shipments exceeded 14 million units, an Increase of 9 percent from the previous quarter. The company Expects to further INCREASE its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.

LG Home Appliance Company reported improved sales and operating profit from the same quarter last year. Revenue increased At 6.4 percent year-over-year to KRW 2.87 trillion (USD 2.53 billion) and operating profit of KRW 129 billion (USD 113.86 million) reflected strong sales in the United States as well as emerging markets. With global appliance stagnant demand, the fourth quarter will be challenging but additional marketing promotions and new model launches Should help offset the situation.

LG Air Conditioning and Energy Solution Company posted a 3 percent year-over-year sales decline to KRW 974 billion (USD 859.66 million) while profitability increased At slightly from the same period the previous year. The company Expects worldwide demand to remain sluggish but the trend toward more energy efficient products Should help drive demand for its commercial air conditioning systems business.

2012 3Q Exchange Rates Explained
LG Electronics' unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2012. Amounts in Korean Won (KRW) are translated into U.S. Dollars (USD) at the average rate of the three-month period in each Corresponding quarter: KRW 1.133 per USD (2012 3Q) and KRW 1.082 per USD (2011 3Q).

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