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LG Electronics reported revenue of almost 14.92 trillion KRW or $14.54 billion in the third quarter of 2014.
LG Electronics reported that in the third quarter of this year they have managed to gain a profit of $14.54 billion. This is an increase of almost 7.4 percent year over year and their operating profit was doubled when compared to last year’s third quarter.
LG gained an operating profit of $461.3 million. The company has been able to do good business in the mobile industry by the end of 2014, as it has been able to ship up to 16.8 million Smartphones.
The profit reported in this third quarter is 3 percent less than the revenue recounted in the third quarter of 2013. On the other hand, there was an increase of 5 percent in the operating profit when compared to the third quarter of the previous year because of better product mix.
The sales of LG LCD TVs increased in places like Europe, Middle East, America and Asia. According to the analysts of LG, the company is expecting an increase in the sales of Ultra HD TVs along with other digital products. On the contrary, the demands of AV products along with monitors have decreased.
The company was able to sell 16 percent more units as compared to last year’s third quarter. Their year over year increase was almost 39 percent. LG Mobile Communication Company broke all their previous records. The operating profit along with the revenue generated in this quarter is the highest the company has achieved since 2009.
The company is hoping for a bright future because of their building momentum. They are expected to make themselves prominent in the Smartphone industry due to their L and G series models in spite of the fact that the market is becoming more and more competitive.
The quarterly earnings results of LG Electronics are based on International Financial Reporting Standards and their third quarter ended on September 30, 2014. The company will announce its financial reports during different conferences.
On the 29th of October, 2014 LG Electronics held a conference at the LG Twin Tower Auditorium and the conference was in Korean language. The English language earning conference will be held at the same place on 30th October, 2014.