LG's Drop in Handset Market Causes 33% Decrease in Profit

July 28, 2010
Net profit in Q2 was $721 million

South Korea's LG Electronics said on July 28 that its second-quarter net profit had fallen 33% from a year earlier as its handset business lost money for the first time in four years.

The world's third-largest mobile phone maker reported a net profit of 856 billion won (US$721 million) from April-June compared to 1.28 trillion won a year earlier.

Sales fell 0.7% year-on-year to 14.41 trillion won, while operating profit plunged to 126.2 billion won from a revised 1.24 trillion won a year earlier.

Copyright Agence France-Presse, 2010

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!