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LG`s quarterly income exceeded $3 bn

05.11.2019,17:36


November 5, Fineko/abc.az. The LG Home Entertainment Company recorded quarterly revenues of KRW 3.87 trillion (USD 3.24 billion).

ABC.AZ informs that LG Home’s says about that.

According to the report, this indicator was achieved as a result of mass sales in Latin America and the Middle East with an increase of 3.5 percent from the 2018 period.

Although operating income of KRW 318 billion (USD 266.3 million) declined slightly from a year ago due to intense market competition and a weaker exchange rate, strong sales of premium products such as OLED TVs resulted in a healthy quarterly operating margin of 8.2 percent for the quarter.

The LG Mobile Communications Company reported sales of KRW 1.52 trillion (USD 1.27 billion) for the quarter in a challenging global smartphone market. Compared with the previous quarter, operating loss narrowed significantly to KRW 161.2 billion (USD 135 million) due to production efficiencies and cost im-provements.