Cell software gross sales up 24 % 12 months-over-12 months
LG has simply posted its 0.33 quarter 2013 monetary outcomes, encompassing revenue from its 4 main world divisions. As an entire firm, LG posted $ 12.fifty one billion in revenues resulting in $ 196.34 million in working revenue, which is up 27 p.c 12 months-over-12 months. We’re most within the cell facet of issues although, so let’s get into the excessive factors of LG’s “Cellular Communications Firm” for the quarter.
The cellular division posted revenues of $ 2.seventy five billion for Q3, which is up 24 % 12 months-over-yr. These strong revenues got here from 12 million telephones it shipped within the quarter, which virtually hits its record number of 12.1 million from Q2. LG claims that the average selling price of those handsets dipped due to competitive pressures, however.
Going forward it plans to focus on sales of its highest-end handsets like the LG G2 throughout the vacation trips, and easily letting gross sales of its decrease-finish 3G-handiest handsets promote to the plenty. In all it is a strong quarter that continues alongside the identical increase direction from Q2.
LG ANNOUNCES THIRD-QUARTER 2013 FINANCIAL RESULTS
Gross sales of Cellular Units Elevate 24 % From Comparable Duration Earlier Yr
SEOUL, Oct. 24, 2013 — LG Electronics Inc. (LG) these days introduced 0.33-quarter 2013 consolidated revenues of KRW thirteen.89 trillion (USD 12.fifty one billion). Whereas aggressive prerequisites within the TV sector and an damaging foreign currency echange alternate price affected general revenues in comparison with the 2012 1/3 quarter, gross sales of cellular gadgets elevated 12 months-over-yr via 24 p.c. LG noticed a 27 % raise in 1/3-quarter running revenue to KRW 217.eighty billion (USD 196.34 million) in comparison with the identical duration ultimate 12 months.
The LG Dwelling Leisure Firm mentioned revenues of KRW 5.01 trillion (USD four.50 billion), a 7 % decline from the identical length a yr in the past, reflecting slower international TV demand and decrease promoting costs. Greater gross sales in growing markets reminiscent of Asia and the CIS area have been offset through softness in Europe. Working revenue of KRW 124.forty billion (USD 111.sixty eight million) elevated each 12 months-over-yr and quarter-over-quarter because of extra environment friendly administration of running and advertising cost. Because it enters the vacation promoting season, LG plans to extend international gross sales of top class merchandise akin to OLED TVs and Extremely HD TVs whereas persevering with to scrupulously handle prices.
The LG Cell Communications Firm’s 0.33-quarter revenues elevated via 24 % when put next with the identical quarter a yr in the past to KRW three.05 trillion (USD 2.seventy five billion). The corporate shipped 12 million smartphones within the 1/3 quarter however profitability and moderate promoting worth have been littered with elevated competitors and better advertising and marketing investments. LG plans to focal point on rising gross sales of recent top class merchandise such because the LG G2 smartphone all over the height vacation season in addition to maximizing 3G and mid-tier mass gadgets such because the L II Collection and F Collection.
The LG Dwelling Equipment Firm recorded revenues of KRW 2.ninety seven trillion (USD 2.sixty eight billion), up three p.c from the earlier yr generally as a result of the certain reception of its new washing machines and fridges. LG equipment gross sales elevated in North The us and China however slowed in creating markets. Regardless of larger total revenues and stronger value construction, 0.33-quarter running revenue diminished from the identical duration ultimate yr to KRW 109.20 billion (USD ninety eight.17 million) essentially as a result of detrimental international trade actions.
The LG Air Conditioning and Vitality Options Firm pronounced moderately flat 1/3-quarter gross sales and running revenue margin 12 months-over-12 months with revenues of KRW 973 billion (USD 876.32 million). Whereas elevated R&D investments and susceptible world market stipulations will proceed to influence the trade, the corporate will center of attention on rising its market share of non-seasonal merchandise and better-margin merchandise akin to new industrial air-con programs.
2013 3Q Alternate Charges Defined
LG Electronics’ unaudited quarterly salary outcomes are in keeping with IFRS (World Monetary Reporting Requirements) for the three-month length ending September 30, 2013. Quantities in Korean received (KRW) are translated into U.S. bucks (USD) on the moderate charge of the three-month length of the corresponding quarter — KRW 1,a hundred and ten per USD (2013 3Q).
Income Convention and Convention Name
LG Electronics will hang a Korean language cash convention on October 24, 2013 at sixteen:00 Korea Same old Time on the LG Twin Tower Auditorium (B1 East Tower, 20 Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea). An English language convention name will practice later at 21:00 Korea Same old Time (12:00 GMT/UTC). Members are suggested to name +eighty two 31 810 3069 and enter the passcode 9084#. The corresponding presentation file shall be on hand for obtain on the LG Electronics website online (www.lg.com/world/ir/stories/incomes-unencumber.jsp) at 14:00 on October 24, 2013. Please discuss with http://pin.teletogether.com/eng/ and pre-register with the passcode equipped. For these unable to take part, an audio recording of the information convention will probably be to be had for a length of 30 days after the conclusion of the decision. To get right of entry to the recording, dial +eighty two 31 931 3100 and enter the passcode 142710# when brought about.