LG sales and rev slump in Q4


The LG Mobile reported a slump in sales and handset revenues in the fourth quarter of 2009, ended December 31, 2009.

LG’s mobile sales totalled KRW 4.2 trillion (£2.2 billion) in sales, 7.4 per cent less than the same quarter in the previous year, while revenues were reported to be at KRW 3.9 trillion a 5 per cent decline from the same quarter in 2008.

Operating profit reached KRW 66.5 billion for handsets, resulting in a margin of 1.7 per cent.

LG shipped 33.9 million units globally in the quarter, an increase of 32 per cent year-on-year and 7 per cent quarter-on-quarter, which resulted in a record 117.9 million units being sold in 2009 compared with 100.7 million in 2008.

Yearly sales in mobile increased 13.5 per cent to KRW 18.2 trillion, with the handset division seeing an increase of 17.3 per cent year-on-year to KRW 17.1 trillion.

Its Group level operations reported healthier results with record sales and profits for the fourth quarter of 2009. Sales increased by 6.8 per cent to KRW 14.3 trillion (£7.6 billion) and profit of KRW 446.7 billion (£236.5 million). 

LG said it anticipates a 19 per cent increase is mobile sales to 140 million by the end of this year, with a focus on smartphones.