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LG Electronics Q1 Result Beats Forecasts |
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LG Electronics Q1 Result Beats Forecasts
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By Allen Tsai | Wed Apr 22, 2009 5:02 pm |
LG Electronics, the world's No. 3 handset behind Nokia and Samsung, reported a smaller-than-expected 25 percent fall in first-quarter profit and said it expected improving sales of mobile phones to drive a recovery in the quarters ahead.
The Korea-based company said it sold 22.6 million handsets in the first three months this year, down from 25.7 million units sold -- but said its handset margins held up well.LG also said it will strive to increase handset sales by more than 10 percent in the second quarter from the first. "We think the second quarter could yield better results than the first," said Chief Financial Officer Jung Do-hyun. "Considering economic indicators, it's unlikely that the economy would recover sharply. The downturn could drag on as long as two years, or as short as one year." LG posted a 6.7 percent profit margin in mobile phones, an increase from 5.2 percent reported in the fourth quarter. Last week, Nokia reported a 90 percent drop in January-March profits and its first-ever quarterly pretax loss. The Finnish company repeated its forecast for market volumes to decline around 10 percent in 2009. Fourth-ranked Sony Ericsson also reported heavy losses on its handset operations in the fourth quarter of last year.
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Wed Feb 01, 2012 1:54 pm | By
LG Electronics' handset sales improved, gaining traction in the smartphone market despite the company's overall loss, as the company's strategic turn towards upscale smartphones faces stiff competition.
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Mon Jan 23, 2012 10:27 am | By
Connected refrigerators, ovens, and washer-dryers offer another direction for the burgeoning app market to expand, as well as a new field for tech rivals to compete in.
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Thu Jan 12, 2012 4:03 pm | By
LG signed a patent agreement with Microsoft, joining tech companies that agreed to pay licensing fees for Android-powered devices.
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Mon Jan 09, 2012 3:53 pm | By
LG unveiled several smart home appliances at CES, including a refrigerator that helps people keep track of their diets, showcasing the company's plans to appeal to an increasingly connecting customer base.
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Mon Jan 09, 2012 3:13 pm | By
Verizon will release the LG Spectrum, a 4G-capable handset, on January 16 for $200 with two-year contract, as it moves into the high-end of the smartphone market.
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More Phones: LG |
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Editorials & Opinion
By Janet Maragioglio
Doctors and nurses are turning to tablets and smartphones to aid their everyday work, as a new generation of medical professionals lean on gadgets to make healthcare more efficient and cost-effective.
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