LG reports record Q3
October 30, 2019
LG Electronics has announced record-breaking third-quarter consolidated revenues of KRW 15.7 trillion (€11.8bn) and operating profit of KRW 781.4 billion for the July-September period. Sales increased 1.8 per cent and operating income was 4.4 per cent higher compared with the same period last year, primarily due to the strong performance of the home appliance, home entertainment and business solutions business units, while losses narrowed for mobile communications in the quarter.
The LG Home Entertainment Company recorded quarterly revenues of KRW 3.87 trillion, an increase of 3.5 per cent from the 2018 period, reflecting strong sales in Latin America and the Middle East.
Although operating income of KRW 318 billion declined slightly from a year ago due to intense market competition and a weaker exchange rate, strong sales of premium products such as OLED TVs resulted in a healthy quarterly operating margin of 8.2 per cent for the quarter.