LG Q1 earnings come in lower than last year, but phone sales are up

Written by Digital News on . Posted in News from the Web

LG Q1 earnings come in lower than last year, but phone sales are up

LG has released its earnings report for the first quarter of 2013, and while they were down overall from last year, there is good news to report for its phones. A net profit of $20.3 million is lower than Q1 2012's $214 million -- but better than Q4's lawsuit-related $428 million loss -- blamed on weaker earnings in its home theater business. The good news is reserved for phones, where sales were up 30 percent from last year thanks to devices like the Optimus G (original, Pro and Nexus 4) and L series. Home Entertainment sales dropped to their lowest level in the past year, blamed mostly on a decline in plasmas and professional displays. Q2 is expected to be another good one as the Optimus L Series II, 5.5-inch Optimus G Pro and Optimus F ship worldwide. According to LG its LCD sales were actually up thanks to growing demand in Europe and China, but profits took a hit because of increased competition. While it doesn't expect the overall market to change, it is looking for better results in Q2 as its new Smart and 3D TVs hit shelves along with upcoming 4K and OLED sets. We'll keep digging through the numbers for more details, check the source link below to take a look for yourself.

Filed under: Cellphones, Home Entertainment, HD, Mobile, LG


Source:LG Korea, LG Q1 2013 earnings (PDF)

Read more http://www.engadget.com/2013/04/24/lg-q1-earnings/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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