LG Reports Q1 Earnings: Revenue Rose 6.8%, Net Profit $20.30 Million, Shipped 10.3 Million Smartphones

Posted on Apr 24 2013 - 11:16am by Editorial Staff

LG

LG Electronics today reported its first quarter results. The company reported operating profit of KRW 350 billion ($322.88 million), net profit of KRW 22 billion ($20.30 million) while revenue rose 6.8 percent year-over-year to KRW 14.10 trillion ($13.01 billion). The company has shipped 10.3 million smartphones between January and March.

Business Highlights:

  • LG Home Entertainment Company revenues in the quarter were KRW 5.17 trillion ($4.77 billion) declined year-on-year due to lower sales of plasma TVs and IT products.
  • LG Mobile Communications Company revenues in the quarter were KRW 3.21 trillion ($2.96 billion) on smartphone shipments of 10.3 million units, an increase in revenue of 28.5 percent from the same period last year.
  • LG Home Appliance Company sales in the first quarter of 2013 increased 11 percent from the same period last year to KRW 2.81 trillion ($2.59 billion).
  • LG Air Conditioning and Energy Solution Company revenues were KRW 1.23 trillion (USD 1.14 billion) in the first quarter.
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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.