LG revenues up in third quarter 2018 financial results

posted on Friday, 26th October 2018 by Steve May

LG  Corporate  OLED 

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LG Electronics has reported consolidated sales of KRW 15.43 trillion (USD 13.76 billion) and operating profit of KRW 748.8 billion (USD 667.7 million) for the third quarter of 2018. Revenues were the highest among the three quarters this year, increasing 2.7 percent from the second quarter with operating income up 45 percent from the same period the previous year while the mobile business narrowed its losses significantly.

The LG Home Entertainment Company generated third-quarter operating profit of KRW 325.1 billion (USD 289.9 million) on sales of KRW 3.71 trillion (USD 3.31 billion). Sales of premium OLED and UHD TVs remained strong, it says, even with demand for TV products in developing markets slowing. The company plans to increase its focus on premium TV models in key markets to maintain profitability to combat a “sluggish” overall TV market.

LG’s Home Appliance & Air Solution Company recorded third-quarter revenues of KRW 4.85 trillion (USD 4.33 billion) and operating profit of KRW 409.7 billion (USD 365.3 million). Sales were strong in Korea, Europe and North America.

Steve May

Inside CI Editor Steve May is a freelance technology journalist, who also writes for T3, TechRadar, Home Cinema Choice and ERT (amongst others).

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