Featured Articles

Nvidia Shield 2 shows up in AnTuTu

Nvidia Shield 2 shows up in AnTuTu

Nvidia’s original Shield console launched last summer to mixed reviews. It went on sale in the US and so far Nvidia…

More...
AMD CSO John Byrne talks ARM

AMD CSO John Byrne talks ARM

We had a chance to talk about AMD’s upcoming products with John Byrne, Chief Sales Officer, AMD. We covered a number…

More...
AMD Chief Sales Officer thinks GPU leadership is critical

AMD Chief Sales Officer thinks GPU leadership is critical

We had a chance to talk to John Byrne who spent the last two years as Senior Vice President and Chief…

More...
OpenPlus One $299 5.5-inch Full HD phone

OpenPlus One $299 5.5-inch Full HD phone

OnePlus is one of the few small companies that might disrupt the Android phone market, dominated by giant outfits like Samsung.…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 24 April 2013 14:32

LG reports lower profits, higher smartphone revenue

Written by Slobodan Simic

lg logonew

Weak TV business to blame

Despite scoring higher smartphone revenue and shipping 10.3 million smartphones, LG's Q1 2013 profit has taken a hit as it fell 22 percent to US $322.8 milion.

Net profit dropped by 91 percent year-on-year to US $20.3 million and despite lower overall profit, it still did better than in the previous quarter where it took hit ot US $100 million operating profit and US $427 million net loss. The main culprit for lower profits is actualy LG's TV department and despite seeing increased sales of LCD TVs in both Europe and China, it took a big hit mostly due to stronger competition. LG hopes that recently released Smart, 3D, and UHD TVs will bring some relief in future quarters.

The shining star of LG is actualy its smartphone business that managed to score big with impressive sales of Optimus G, Optimus G Pro, Optimus L series and the Nexus 4 smartphone that got them a year-on-year increase of 28.5 percent adding up to US $2.96 billion of revenue. It managed to ship 10.3 million units of smartphones and made an impressive "almost" four-fold operating profit increase compared to US $122.69 million in the same period last year. LG hopes that these will increase and provide even more impressive next quarter once Optimus G Pro and Optimus F series roll out in the rest of the world.

You can check out more here.


Last modified on Wednesday, 24 April 2013 15:46
blog comments powered by Disqus

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments