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 Cuts 2005 Home Appliance Sales Growth Target
Aug 19, 2005
 Printable format
 Email this Article
 Search

South Korea's LG Electronics Inc. said it expected its sales of home appliances to grow by 10 to15 percent in 2005, down from an earlier target of 20 percent, due to a stronger won and higher steel prices.

Lee Young-ha, CEO of LG Electronics' home appliances unit, said full-year sales would come in below U.S. $10 billion, compared with about $8.5 billion last year. "Probably, it will be difficult to achieve the 20 percent target. The growth we expect to see this year would be in the range of 10 to 15 percent," he said.

Seasonally slower demand for air-conditioners, which have relatively higher margins compared to washing machines and ovens, would also crimp sales in the second half, Young-ha added.

The home appliances division contributes about a quarter of LG Electronics' revenues and 36 percent of its operating profit. Young-ha said operating margins for the home appliances unit would also fall to about 5 to 6 percent in the second half of the year, from 10 percent in the April to June quarter, giving an overall operating margin of about 7 percent for the full year. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Nov 26, 2014: Hamilton Beach 3Q income down slightly

Nov 26, 2014: LG's sales of Inverter Linear Compressor refrigerators top 10 million

Nov 25, 2014: Robotics Exhibits Grow 25% at 2015 CES

Nov 25, 2014: Index shows HVAC/R contractors more positive than last year

Nov 25, 2014: Consumer Confidence Index Declines

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 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