Wednesday, August 2, 2017

LG Electronics Announces Second-Quarter 2017 Financial Results

Karachi:- LG Electronics Inc. (LG) today announced second-quarter 2017 revenues of KRW 14.55 trillion (USD 12.89 billion), an increase of nearly 4 percent from the same period last year, led by the home appliance unit, which reported a 12 percent sales increase from the 2016 second quarter. Three of the company’s four main business units reported higher revenues than a year ago. Quarterly operating income of KRW 664.1 billion (USD 588.2 million) was 13.6 percent higher in 2017, despite a challenging quarter for the mobile business.  


The LG Home Appliance & Air Solution Company accounted for the largest share of the second quarter’s revenue and operating income, KRW 5.25 trillion (USD 4.65 billion) and KRW 465.7 billion (USD 412.5 million) respectively. Among second-quarter highlights were strong sales in the Korean market, up 43 percent from the April-June period in 2016. J.D. Power just announced that “LG received more 2017 customer satisfaction awards for Kitchen and Laundry Appliances than any other manufacturer.” * The business unit expects to see growing demand in North America, Europe and Asia while premium home appliances such as InstaView refrigerators and TWINWash washing machines are expected to contribute strong margins. 

The LG Home Entertainment Company recorded KRW 343 billion (USD 303.80 million) in operating profit on revenues of KRW 4.23 trillion (USD 3.75 billion), a 2 percent increase from the 2016 second quarter despite the declining worldwide demand for TVs. Strong second-quarter sales of premium TV products, such as LG OLED TVs and LG SUPER UHD TVs, coupled with improved cost management, resulted in a solid 8.1 percent operating profit margin. Premium TV sales are expected to remain strong for LG in the third quarter.  

The LG Mobile Communications Company saw a challenging second quarter with revenues of KRW 2.70 trillion (USD 2.39 billion) and an operating loss of KRW 132.4 billion (USD 117.27 million), nearly unchanged from the same period a year ago primarily due to weaker than expected premium smartphone sales and increase in component costs. The North American market remained strong, contributing a 13 percent increase in sales compared to the same period last year thanks to strong performance of the company’s mass-tier lineup. The introduction of the new Q series and the rollout of a new high-end device in the weeks ahead are expected to bolster the company’s performance in the second half of 2017. 

The LG Vehicle Components Company continued its strong growth with second-quarter sales of KRW 882.6 billion (USD 781.7 million), an increase of 38 percent from the same period in 2016, in large part due to the success of its telematics business and components for the recently-launched Chevrolet Bolt electric vehicle in the United States.  Ongoing investments in new business areas such as advanced driving assistance systems (ADAS), resulted in an operating loss of KRW 16.4 billion (USD 14.5 million) for the quarter. Those investments are beginning to bear fruit; LG just announced its first ADAS camera partnership with a leading German automaker. The market for smart electric vehicle components is expected to see strong growth in the second half of the year, reflecting wider availability of the Chevrolet Bolt in North America and growth of other electric vehicles in Europe.




SHARE THIS

Author:

Thanks for visiting our website. Like our FB pages and subscribe for daily updates; you can comment on the above post bellow ↓with your Google id or Facebook id – Thank you for your time..☺

0 comments:

 
‎لطیفے اور شاعری‎
Facebook group · 8,142 members
Join Group
یہ گروپ آپ سب کے لئے ہے۔ پوسٹ کیجئے اور بحث کیجئے۔۔۔۔۔ اپنی آواز دوسروں تک پہنچائے۔۔۔اور ہاں گروپ کو بڑا کرنے کے لئے اپنے دوستوں کو بھی گروپ میں دعو...
 

All Categories

Aaj Kamran Khan ke Saath Aamir Liaquat Hussain Aapas ki Bat NajamSethi Abdul Qadir Hassan AchiBaatain Afghanistan Aga Khan University Hospital AirLineJobs Allama Iqbal America Amjad Islam Amjad Anjum Niaz Ansar Abbasi APP Aqwal Zareen Articles Ayat-e-Qurani Ayaz Amir Balochistan Balochistan Jobs Bank of Khyber Banking Best Quotes Biwi Jokes Blogger Tips Chaltay Chaltay by Shaheen Sehbai China Chitral Coca-Cola Coke Studio Columns CookingVideos Corporate News Corruption Crimes Dr Danish ARY Sawal Yeh Hai Dubai E-Books EBM Education Educational Jobs Emirates English #Quotes English Columns EnglishJokes Funny Photos Funny Talk Shows Funny Videos Gilgit-Baltistan Girls Videos Govt Jobs HabibJalibPoetry Hamid Mir Haroon Al-Rashid Hasb-e-Haal with Sohail Ahmed Hassan Nisar Hassan Nisar Meray Mutabaq Hazrat Ali AS Sayings HBL Health HikayatShaikhSaadi Hospital_Jobs Hotel Jobs Huawei Hum Sab Umeed Say Hain India Information Technology Insurance International News Islam Islamabad Islamic Videos JammuKashmir Javed Chaudhry Jazz Jirga with Salim Safi Jobs Jobs Available Jobs in Karachi Jobs in KPK Jobs in Pak Army Jobs_Sindh JobsInIslamabad Jokes Jubilee Insurance Kal Tak with Javed Chaudhry Karachi Kashmir KhabarNaak On Geo News Khanum Memorial Cancer Hospital Khara Sach With Mubashir Lucman Khyber Pakhtunkhwa Lahore Latest MobilePhones Lenovo LG Life Changing Stories LifeStyle Live With Dr. Shahid Masood Live with Talat Hussain Maulana Tariq Jameel MCB Bank Microsoft Mobilink Mujeed ur Rahman Shami Munir Ahmed Baloch Nasir Kazmi Nazir Naji News News Videos NGO Nokia North Korea Nusrat Javed Off The Record (Kashif Abbasi) Off The Record With Kashif Abbasi On The Front Kamran Shahid OPPO Orya Maqbool Jan Pakistan Pakistan Army Pakistan Super League Pashto Song Photos Poetry Political Videos Press Release Prime Time with Rana Mubashir PTCL Punjab Quetta Quotes Rauf Klasra Samsung Sar-e-Aam By Iqrar-ul-Hasan Sardar Jokes Saudi Arabia ShiroShairi Show Biz Sikander Hameed Lodhi Sindh Social Media Sohail Warriach Songs Sports News Stories Syria Takrar Express News Talat Hussain Talk Shows Technology Telecommunication Telenor To the point with Shahzeb Khanzada Tonight with Moeed Pirzada Turkey Tweets of the day Ufone University Jobs Urdu Ghazals Urdu News Urdu Poetry UrduLateefay Video Songs Videos ViVO Wardat SamaaTV WaridTel Wasi Shah Zong اردو خبریں
______________ ☺ _____________ _______________ ♥ ____________________