Date: 6 months ago   Category: Hi-Tech

LG announces financial result for the 3rd quarter 2018

LG Electronics Inc company. Has reported (LG) that the general profit on sales for the 3rd quarter 2018 has made 15,43 trillion Korean wons (13,76 billion US dollars), and operating profit - 748,8 billion Korean wons (667,7 million US dollars).

the Profit of the company during this period has increased by 2,7% in comparison with the second quarter 2018. Operating profit has grown by 45% in comparison with the same period of last year, and the division of mobile devices has considerably reduced losses.

the Revenue of the LG Home Appliance & Air Solution company for the third quarter 2018 has made 4,85 trillion Korean wons (4,33 billion US dollars), operating profit for this period - 409,7 billion Korean wons (365,3 million US dollars). Sales to the company have increased in the markets of South Korea, Europe and North America, despite decrease in rates of economic development and currency problems in regions of Asia, Latin America, the Middle East and Africa. High profitability of business will be increased by growth of sales of bonus household appliances and the expenses improved by management processes. quarter 2018 the LG Home Entertainment company has shown to

B 3 results on operating profit in 325,1 billion Korean wons (289,9 million US dollars), profit on sales has made 3,71 trillion Korean wons (3,31 billion US dollars). Despite decrease in demand for TVs in emerging markets, the indicator of sales of bonus OLED-and UHD TVs remains high.

By the end of the year the company plans to be focused on sales of bonus models of TVs in the key markets of the world to affect profitability of business, despite the general weak activity of the market of TVs. the LG Mobile Communications Company has reported

about profit on sales of 2,04 trillion Korean wons (1,82 billion US dollars) and also about operating losses in 146,3 billion Korean wons (130,5 million US dollars). Despite decrease in demand for smartphones worldwide and the high competition, the company has considerably reduced operating losses thanks to the accurate business plan and focusing for the market of products of average price range. It is expected that start of an innovative leader of V40 ThinQ will increase profit on sales to the company in the 4th quarter. Thanks to business strategy strengthening, the company continues to consolidate and introduce more profitable processes.

the LG Vehicle Components Company has also submitted the report on income for the 3rd quarter 2018. The profit of the company has made 1,18 trillion Korean wons (1,05 billion US dollars) that is 41% more in comparison with the same period of last year. Also this indicator is 35% higher in comparison with the last quarter. It is connected with increase in production thanks to new projects, acquisition of department of systems of lighting and the ZKW Group headlights. In the 3rd quarter 2018 for the first time in the history of the company profit on sales of spare parts for cars was exceeded by 1 trillion Korean wons. Increase in prices for raw materials and increase in expenses have affected indicators of operating losses of the company for is given



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