LG Optimus G

LG has just released its Q3 2012 financial statements, showing its earnings for all divisions of the company. What's interesting in this release is that the mobile division of the company actually pulled out a profit for the quarter, which hasn't always been the case as of late. "LG Mobile Communications" posted a $19.48 million operating profit for the quarter on $2.16 billion in revenues, which were up 5-percent quarter-to-quarter. LG notes that it shipped 14 million smartphones in the quarter, up 9-percent over the previous quarter.

Putting these numbers in perspective, LG as a whole posted an operating profit of $195.06 million, a majority of which coming from its appliance division. This is quite a feat regardless, considering that the company actually had a losing quarter this time last year.

Take a gander at the full press release after the break.

LG ANNOUNCES THIRD-QUARTER 2012 FINANCIAL RESULTS

Company Reports Third Consecutive Quarter of Solid Net Income


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) due 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 quarter-on-quarter with unit sales growing in most regions. IT products led by IPS monitors and monitor TVs also increased 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 improved significantly in the 2012 third quarter, recording operating profit of KRW 22 billion (USD 19.42 million) due in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In addition, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased 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 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 demand stagnant, 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 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 in 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).

 

Reader comments

LG announces Q3 2012 earnings, mobile division posts $19.42 million profit

12 Comments

Actually isn't that unlikely the LG 4x Hd sold ok in Germany and a quite a few still have LG Speed (2x) in the us (2gx) then they have the newest 3d maxi and some lg prada phones as well but i would say the the 2x and the 4x sold pretty well. And then the Optimus G is a big hit as well. In asia for now. So it does not surprise me. I myself use the lg 4x as my daily driver retired the s3 and one x and note. Well do have the Note 2 i use too.

Nobody will buy LG twice, After Optimus 2X, I will never buy LG. Good phone, but LG don't give a f*ck about customers. Sw support is slow like hell.

Yes and no for example the lg 4x got several updates to fix issues like the camera always refocusing and other stuff. lg was quick about that. and yes when it comes to the newest software that could be a different story but then again the most normal consumer deosnt even know about the software difference and if you buy a phone outright and u pay almost 200 less with the same specs that an s3 has it is really a no brainer the lg 4x is well build and the screen has not the burn in issue.

you can also rooted and install a costume rom. really though the only people complaining about the software is us geeks all the other once don't care an lg normally performs well. at least the 4x does and my old 2x did too well after a costume rom the 4x does well without a costume rom since the software got a lot better.

" only people complaining about the software is us geeks all the other once don't care"

That's a farce, head over to the LG mobile Facebook page, 99.9% of every post is someone asking for a software update on one device or another..

Absoluetly. like i said the really most people around don't even know about jelly beans, ice cream sandwich or whatever. i have colleagues that still run so old software on there android phones and complain on how shitty it is. then i show them what i have and they say hey this is so much better.

and who makes people so crazy about software it is us geeks we talk about it and make it sound so important and actually it isn't that big of a deal. i mean it is nice but come on the phone still works even on a older software like 2.3 2.2 android performs ok. we make people way to crazy about software. it isn't the biggest of world breaking improvements ever or the world biggest quantum jump ever from 2.2 .2.3 to ics or jelly beans. just saying.