LG announced its earnings for Q3 2012, with its third quarter of “positive net income”, which it apparently considers a big enough achievement to brag about it in its press release. Maybe it is, considering how everyone except Apple and Samsung is getting crushed in the smartphone space. But I digress. Anyway, LG made a net profit of $138.57 million on revenue of $10.93 billion, which was down 4% year-over-year. Its operating profit was $195.06 million.
The revenue split between divisions was as expected.
LG Home Entertainment Company generated third-quarter 2012 sales of $4.84 billion, while LG Mobile Communications Company generated sales of $2.16 billion. LG Home Appliance Company saw its revenue increase to $2.53 billion, while LG Air Conditioning and Energy Solution Company saw sales decline to $859.66 million.
Here’s what most relevant to us from their press release:
“LG Mobile Communications Company improved significantly in the 2012 third quarter, recording operating profit of KRW 22 billion (USD 19.42 million) due in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In addition, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased by 5 percent quarter-to-quarter to KRW 2.45 trillion (USD 2.16 billion) as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter. The company expects to further increase its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.”
via LG Newsroom