LG achieved record profits with $ 136 million of losses in the handset division

Jul

29

2016

LG Electronics has published its financial results for the second quarter of 2016 and operating profit figures , which amounted to 519.6 million dollars, an increase of 139.5 percent compared with last year, these numbers and comes backed by strong sales of televisions and appliances.

It outperformed these new numbers on the operating profit for the first quarter, which amounted to $ 431 million digits, and was considered the best to have in the past nine quarters.

The company pointed to the exposure of the mobile phone sector to the operating loss of $ 136 million, in spite of record operating profit figures, largely due to this increased marketing costs and the weakness of the leading smart phone sales LG G5.

And contributed to the Department of home appliance as expected by about $ 385 million, with the support of the process of reducing costs and success and popularity achieved by the brand LG, along with the successful expansion in the field of B2B business.

TVs department and achieved approximately 316.7 million dollars in favor of profits, due to rising demand in emerging markets in Africa and the Middle East in general.

The LG company to continue working in order to expand its brand and deliver end-consumers and business-related enterprise customers.

The company expects strong competition to the Department of mobile phones in the second quarter, with the launch of the next series V of TVs, phones and expand the middle class and the K X, and an improvement in profits.

South Korean tech company began the restructuring of the Department of mobile phones, the process according to this setback, which led to several changes in leadership positions inside the phone section.

The data indicate the company to LG shipped 13.9 million device during the last three-month period, an increase of 13.5 million device that shipped last quarter, but it was less than in the year before, which amounted to 14.1 million device number.

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