LG Announces financial results for the second quarter of 2013

Jul

24

2013

Figures showed an improvement in performance results in most parts of the company.

Company “LG Electronics” strong financial results for the second quarter of 2013 with improved performance results in most parts of the company. And LG shipped 12.1 million smartphones during the period between April and June 2013 and is the largest company registered number in its history.

According to the company, revenues rose in the second quarter of 2013 with a 10.1% year-to-year and reached 15.23 Corey trillion won (13.58 billion US dollars), reflecting strong sales increase in most business units with “LG”.

Operating profit amounted to 479 million Korean won ($ 426.92 million), and net profit amounted to 156 trillion won Cory (82.31 million dollars), although down slightly from the same period last year, but it is a marked improvement on the previous quarter.

The LG home entertainment had revenues of $ 5.5 trillion Korean won (4.91 billion dollars), an increase of 6.4% over the previous quarter, unchanged from the previous year’s results.

And increased operating profit in the second quarter to 107 trillion Korean won (116.2 million dollars), an increase from the previous quarter thanks to stronger sales in emerging markets and the success of new models, but is low compared with the same period last year, due to intense competition and lower demand, leading to a lower average selling price.

With continued weak demand and expectations of increased competition, the company invests in large screens and TVs and expand its high-definition television products (Ultra HD TV) and OLED TVs in developed markets.

And LG Telecom strengthen its position in the second quarter of the year and recorded revenues of 3.12 trillion Korean won (2.78 billion dollars), an increase of 34.5 percent from the same period last year. And the company has shipped 12.1 million smartphones in the second quarter, a new record in quarterly sales of company “LG”. Operating profit rose to 61 billion Korean won (54 million dollars) from year to year, with the decline on the previous quarter as a result of weak demand in the Korean market, and lower average selling price as a result of increased competition and increased investments in marketing.

And they agreed to drive sales growth, large market shipments of smart phones model L series F second string, while high-end products such as Pro and LG G2 G check to the company its competitive edge in the market.
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