Digital / Trade

Second-quarter figures reveal challenging period for LG

Article written by

Sam Curtis

Written on 29/07/2015 | Posted 2 years 6 months 20 days ago

More from Sam Curtis Follow Sam Curtis on Twitter

LG is confident it can recover lost ground in the third quarter with new products and more effective marketing initiatives LG is confident it can recover lost ground in the third quarter with new products and more effective marketing initiatives

LG Electronics has released the results for its second quarter of 2015, announcing a net profit of 226.4 billion won (£125m) affected by a 'sluggish global TV market and intense competitive pressures'. Overall Q2 sales declined 7.6 percent from the same period last year to 13.93 trillion won (£7.7bn), while operating profits also declined to 244.1 billion won (£161m).

LG's Home Entertainment division brought in a revenue of 3.93 trillion Won (£2.3bn), which the company attributes to slowing market for LCD devices; however, LG is optimistic that sales will improve for its 4K products as it develops its OLED line.

The technology giant saw sales increase by one percent on the previous year in its mobile communications sector, reaching 3.65 trillion Won (£2.13bn) in revenue.

0COMMENTS Join Conversation

Please Sign In to leave a comment

MUST READ
HOT OFF THE PRESS