JUser: :_load: Unable to load user with ID: 78

Published in News

LG reports handset division profit

by on01 February 2012


After six quarters in the red

LG Electronics’ handset division has ended a six-quarter long streak of bad luck and reported profit for Q4 of 2011.

LG reported Q4 operating profit of $20.5 million, which is dramatically lower than forecasted. Its handset division’s operating profit stands at 9.9 billion won, which amounts to US$8,800,000. While the amount may not seem significant, the fact that the division lost close to a billion dollars since Q2 2010 will put things in perspective.

It is said that the company rode on the success of Optimus LTE. Indeed, the phone has turned out to be somewhat of a golden goose and LG has sold 1 million units since it hit the market in October.

More here.

Last modified on 01 February 2012
Rate this item
(0 votes)

Read more about: