Tuesday, October 30, 2018

LG Announces Third-Quarter 2018 Financial Results

LG Announces Third-Quarter 2018 Financial Results

Demand for Premium Products Continue to Grow Despite Slower Demand in Major Markets, International Trade Challenges

Seoul / Karachi, October 30, 2018:  LG Electronics Inc. (LG) reported consolidated sales of KRW 15.43 trillion (USD 13.76 billion) and operating profit of KRW 748.8 billion (USD 667.7 million) for the third quarter of 2018. Revenues were the highest among the three quarters this year, increasing 2.7 percent from the second quarter with operating income up 45 percent from the same period the previous year while the mobile business narrowed its losses significantly. 

The LG Home Appliance & Air Solution Company recorded third-quarter revenues of KRW 4.85 trillion (USD 4.33 billion) and operating profit of KRW 409.7 billion (USD 365.3 million). Sales were especially strong in Korea, Europe and North America despite the economic slowdown and currency challenges in Asia, Latin America, the Middle East and Africa. Profitability remained strong and was boosted by the growth of premium appliance sales and continued cost management. 

The LG Home Entertainment Company generated third-quarter operating profit of KRW 325.1 billion (USD 289.9 million) on sales of KRW 3.71 trillion (USD 3.31 billion). Even with demand for TV products in developing markets slowing, sales of premium OLED and UHD TVs remained strong. As the year comes to a close, the company plans to increase its focus on premium TV models in key markets to maintain profitability despite the sluggish overall TV market. 

The LG Mobile Communications Company recorded sales of KRW 2.04 trillion (USD 1.82 billion) and operating loss of KRW 146.3 billion (USD 130.5 million). Despite the weakening demand for smartphones worldwide and increased competition, the company significantly reduced its operating deficit as a direct result of its business plan and its stronger focus on mid-range products. The rollout of its high-end V40 ThinQ smartphone is expected to boost sales in the fourth quarter. With its business improvement strategy proceeding as planned, the company continues to consolidate and implement a more profitable foundation. 

The LG Vehicle Components Company posted third-quarter revenues of KRW 1.18 trillion (USD 1.05 billion), an increase of 41 percent compared with the same period last year and 35 percent higher than the previous quarter mainly due to increased production related to new projects and the acquisition of automotive lighting and headlight systems provider ZKW Group. The third quarter of 2018 marks the first time vehicle component sales have exceeded KRW 1 trillion in the company’s history. Rising raw material prices and increased costs related to new projects contributed to a quarterly operating loss of KRW 42.9 billion (USD 38.3 million). 

The LG Business-to-Business Company generated sales this quarter of KRW 576.7 billion (USD 514.2 million) and operating profit of KRW 35.1 billion (USD 31.3 million). Profitability was negatively affected by import duties in the United States and the falling price of solar modules in key markets. While price competition in the solar module market will remain challenging, demand for premium information display products is expected grow in the fourth quarter. 





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
______________ ☺ _____________ _______________ ♥ ____________________