Global Supplier Directory
Supplier Solutions
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center

Daily News

LG Posts Record Q4 Revenues
Jan 28, 2010
 Printable format
 Email this Article

LG Electronics, Inc. of South Korea reported record revenues and operating profits in the fourth quarter ending Dec. 31, 2009. The manufacturer’s appliance sales were also up, but air-conditioner sales were down.

Sales on a global basis (including LG’s overseas subsidiaries) rose 6.8% to U.S. $12.2 billion year-over-year. Operating profit was up to $382 million, resulting in a margin of 3.1%, 2.3 percent points higher than the fourth quarter last year. 2009 annual sales on a global basis soared 12.5 percent to a company record-high level of $43.4 billion, with operating profit recording $2.3 billion.

The LG Home Appliance Company posted a sales increase of 6.8% (on a KRW currency base) to $2.1 billion in the fourth quarter, compared with the same period last year. The company said recovery of demand in emerging markets contributed to this growth year-over-year. Operating profit was $65 million, resulting in a margin of 3.1 percent. Total sales for full year 2009 rose 10.9% over 2008 to $ 7.4 billion.

The LG Air Conditioning Company recorded a 9.4% decline in fourth-quarter revenues on a KRW currency base (3% rise on a US dollar currency base) to $530 million year-over-year. Full-year sales reached $ 3.5 billion, 1.4% lower than a year earlier. Highly efficient commercial air conditioning products led the growth in Korea, LG said.

The LG Home Entertainment Company saw fourth-quarter sales rise by 18% to $5.0 billion, largely due to rising demand for LCD TVs and Plasma TVs. Unit sales of total flat panel TVs jumped 52% year-over-year to 6.6 million sets from 4.3 million. Annual sales reached $15.3 billion, jumping 19.9% from the previous year, mainly led by record unit sales of 19.5 million flat panel TVs.

The LG Mobile Communications Company reported sales of $3.6 billion, 7.4% lower than the 2009 fourth quarter. Handset revenues were $3.3 billion, a 5% decline from the same quarter in 2008; however, unit shipments of handsets saw an increase of 32% year-over-year and 7% quarter-over-quarter to 33.9 million units, which resulted in a record 117.9 million units being sold in 2009 versus 100.7 million units in 2008. Yearly sales increased 13.5% to $ 14.2 billion, with the handset division seeing an increase of 17.3% year-over-year to $13.4 billion.

On a global basis, LG expects sales growth -- especially from LCD TVs on a U.S. dollar base -- as a result of conversion to digital TV in developed markets and increased demand due to World Cup soccer and Olympic Games in 2010.

The company also expects profitability to improve year-over-year, driven by premium products in home entertainment and home appliances. As announced earlier, the company is aiming for $51.3 billion in sales for 2010 and plans to invest $3.1 billion for new investments.

Back to Daily News


Daily News


Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

RSS Feeds
Appliance Industry
Market Research


September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014

Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows