LG announces $138.57 million net profit in Q3
Life’s Good for LG Electronics, which continues steadily walking on its way to recovery, this being observed also in the third quarter of 2012. The company has now reported a solid $138.6 million in net profit. Overall revenues (refers to the whole business of LG, including its household appliances and TVs) however have dropped 4% on the year to some $10.1 billion because of a persisting decline of feature phone sales.
With respect to mobile devices, LG is doing better than expected, and has gone back to profit with good sales of LTE smartphones in Korea, Japan and the United States. The Optimus L series conquered new markets, also adding to the sales boost.
LG shipped more than 14 million devices in Q3 2012. This results in revenue of the mobile unit of around $2.16 billion and operating profit stands at some $19.4 million.
LG has a positive outlook for the next quarter as well. That would be the Holiday quarter and LG has got one of the hottest devices to offer out there – the quad-core LG Optimus G, bringing unmatched hardware and being one of the most competitive offerings at present.
