Global Supplier Directory
Supplier Solutions
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

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


Sep 12, 2014: AHRI Suggests Changes to EPA on Proposed SNAP Amendment

Sep 12, 2014: Consumer Confidence Index Up in August

Sep 12, 2014: August 2014 Housing Starts in Canada

Sep 11, 2014: Middleby Acquires Commercial Coffee Machine Producer Concordia

Sep 11, 2014: Electrolux Again Ranked Industry Leader in the Dow Jones Sustainability World Index

More Daily News>>

RSS Feeds
Appliance Industry
Market Research


March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013

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