Lg Anounces By Increase In Profit For The Division Of Smartphone Falls Further

By Author: Manoj Varma
Total Articles: 516
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doinMany companies will announce their financial results for the fourth quarter of 2018 this week, and LG is g the same. The company actually announced its full-year performance for 2018, which was a 10% year-on-year increase to 2.70 trillion won ($2.4 billion). Its revenue is 61.3 trillion won (54.4 billion US dollars), surpassing 60 trillion won for the second consecutive year.

Specifically mentioned in the fourth quarter, LG said its revenue increased compared with the previous quarter, but decreased by 7% year-on-year, mainly due to poor performance of its mobile sector. In fact, the company's smartphone seems to be the lowest point, with 7.98 trillion won ($7.08 billion) showing a 16% drop from the previous quarter. Throughout 2018, LG Mobile Communications increased its operating loss to 790.1 billion won ($706.6 million). For 2019, LG will bet on 5G products and different form factors trying to reverse the situation.

As for other parts of the Korean giant, LG Home Appliances and Air Solutions has a record high operating profit of 1.52 trillion won ($1.35 billion). Annual revenue increased by 5% year-on-year ...
... to 19.36 trillion won ($17.17 billion), and fourth-quarter revenue increased by more than 3% compared to 2017, reaching 4.33 trillion won ($3.84 billion).
LG Home Entertainment's operating profit also hit 1.52 trillion won ($1.35 billion), the same as the home appliance sector. The company's fourth-quarter sales fell 6% from 2017 to 4.56 trillion won ($4.04 billion), but due to the holiday season, the results were 23% higher than the previous quarter.

LG Auto Parts' annual revenue increased 28% year-on-year to 4.29 trillion won ($3.8 billion), but the company did not mention whether it recorded a profit or loss during this period. The quarterly results were even more impressive, with a 71% increase to 1.4 trillion won ($1.24 billion) in the same period last year and a 20% increase from the previous quarter.

Finally, the company’s business-to-business sector achieved a profit of 177.8 billion won ($148.8 million) and its annual revenue reached 2.41 trillion won ($2.13 billion). In the fourth quarter, revenue fell 11% year-on-year to 59.7 billion won ($531 million). The profit for the same period was 14.9 billion won ($13.2 million).

Entering 2019, LG expects to face some challenges due to international trade risks and market uncertainty. Despite this, the company still hopes to continue to grow its business.

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