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


 
Daily News

LG Appliance Business Up in 2Q With 16.5% Growth
Jul 30, 2010
 Printable format
 Email this Article
 Search

Seoul-based LG Electronics said the strong performance of its appliances and home entertainment businesses helped offset profit declines in other business segments in the three-month period ending June 30, 2010.

Overall LG sales were KRW 14.4 trillion (approx. US$12.4 billion) and operating profit was KRW 126 billion ($108 million) in the second quarter of 2010. In Korean won, consolidated sales fell 0.7% (up 10% in USD) and net profit declined by 33% (down 26% in USD) year-over-year.

LG Home Appliance Company showed consistent positive performance with 16.5% year-over-year growth (29% growth on a USD base) on sales of KRW 2.7 trillion ($2.3 billion) and an operating profit of KRW 185 billion ($159 million). Sales expansion in North America, Asia, the Middle East, and Africa and an increase in demand in developing markets led to 30% growth year-over-year in overseas markets.

The Home Appliance Company plans to continue its strong performance with innovative new products such as its 6 Motion front loading washer with direct drive and linear compressor. It also intends to expand its healthcare business and OEM business.

LG Air Conditioning Company saw sales increase 0.3% (11% growth on a USD base) year-over-year to KRW 1.6 trillion ($1.4 billion) with an operating profit of KRW 59 billion ($51 million). The AC Company plans to strengthen its global competitiveness with new energy-efficient models, increased investment in solar cells, and LED lighting.

LG Home Entertainment Company revenues grew 4% from the previous quarter and 19% from a year earlier as demand for flat panel TVs surged, resulting in sales of KRW 5.4 trillion ($4.6 billion) and operating profit of KRW 28 billion ($24 million). Flat panel TV shipments jumped 47% to 6.3 million units compared to the same period last year.

LG Mobile Communications Company shipped 30.6 million units this quarter, an increase of 13% quarter-on-quarter and 2% year-over-year as a result of continued growth in emerging markets and the introduction of new smartphones. Sales increased 5.8% quarter-on-quarter but fell 29.5% year-over-year and the operating profit margin for handsets recorded a loss year-over-year due to investment in R&D and expansion of channels in emerging markets.

LG Business Solutions Company recorded sales of KRW 1.2 trillion ($1.0 billion), an increase of 14.7% year-over-year as a result of growing global demand for monitor TVs and LED monitors. The BS Company will continue to seek new opportunities for its commercial and automotive businesses.

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