LG Electronics ,who claim that they are the #1 consumer electronics brand in Australia, have reported higher quarterly sales and profits due to strong mobile phone and flat-panel TV sales. In their latest report sales have jumped 22.1 percent to $12.534 billion and operating profit was $843 million, which results in a 6.7 percent profit margin for its fiscal second quarter, ended June 30.
One of the strong performers was the LG mobile communications company which posted record sales of $3.788 billion, up 34.3 percent from the second quarter 2007. From handset business, sales reached $3.695 billion, up 38.6 percent from a year earlier. Operating profit margin improved to 13.9 percent, 14.4 percent in handset division due to growth in high-end models and improvements in operational efficiency, the company said.<\/P>
However analysts are forcasting that the Companies mobile phone operations have peaked and will be impacted by the new Apple 3G iphone. <\/P>
Shipment of handsets also recorded the highest in unit sales as well, a total of 27.7 million mainly from North America (33 percent) and emerging markets including Middle East Asia, CIS and Central & South America, thanks to strong sales of “Secret,” “Viewty,” “Venus” and other premium phones.<\/P>
Sales in the digital appliance company increased 4.9 percent to $3.721 billion year-on-year, and operating margin was 7.2 percent despite challenging business environment such as higher raw material prices, economic slowdown and U.S. market contraction from sub-prime effect.<\/P>
Sales in the digital display company jumped 37.2 percent to $3.683 billion, powered by a rise in sales of flat TVs, with an 86 percent increase in LCD TVs and 31 percent in plasma TVs from a year earlier. The PDP module sales grew 22 percent. Following profitability turnaround in the previous quarter, operating profit in the second quarter successfully remained profitable at $37.4 million, the company said.<\/P>
Sales from the digital media company was 2.1 percent lower on year, to $1.201 billion, due to low seasonality, but operating profit and margin increased to $12.8 million, or 1 percent, by a strong effort for cost innovation, LG noted.
<\/P><\/p>\n","protected":false},"excerpt":{"rendered":"
LG Electronics, who claim that they are the #1 consumer electronics brand in Australia, have reported higher quarterly sales and profits due to strong mobile phone and flat-panel TV sales. In their latest report sales have jumped 22.1 percent to $12.534 billion and operating profit was $843 million, which results in a 6.7 percent profit margin for its fiscal second quarter, ended June 30.<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,51],"tags":[],"class_list":["post-82180","post","type-post","status-publish","format-gallery","hentry","category-archive","category-marketing","post_format-post-format-gallery"],"yoast_head":"\n