In the third quarter of 2017, the success of LG Electronics have provided televisions and appliances
LG Electronics today reported the results of its activities in the third quarter of the current calendar year, which ended on 30 September 2017. The division of home appliances showed good growth, but the company continues to lose money on smartphones.
The company’s sales for the quarter made up 13.44 billion, which is 15% more than in the third quarter of last year. Operating income almost doubled (82,2%) and amounted to 455,7 million dollars. Net income amounted to 298 million dollars, while over the same period a year earlier, the company incurred a loss of $ 72 million dollars.
Division of LG Home Appliance & Air Solution has improved sales by 16% and profit increased by 26%. Sales of LG Home Entertainment division increased by 12% and profit margin was a record 9.9 percent thanks to strong demand for televisions.
With regard to the division of LG Mobile Communications, sales were up 8%, but the losses of the unit amounted to 331,4 million dollars, although this is 13% better than it was in the third quarter of 2016. Smartphone shipments grew 44% and 9% in Korea and USA respectively, and $ 13.7 million units.
Unit sales of the LG Vehicle Components increased by 29%, and the loss was $ 25 million.