Seoul, July 22, 2009 - (ACN Newswire) - LG Electronics (LG) today announced unaudited consolidated pay results of the three-month patch ending June 30, 2009. Amounts in Korean Won (KRW) are translated into US Dollars (USD) at the general reckon of the three-month term in each corresponding quarter: KRW 1,291 per USD (2009 Q2), KRW 1,409 per USD (2009 Q1, QoQ) and KRW 1,016 per USD (2008 Q2, YoY). Sales and Profit In the support zone of 2009, LG posted record-high return in sales and operating gain on both a parentand a broad basis. Sales on a universal bottom (including LG's overseas subsidiaries) soared 13.8 percent to KRW 14.497 trillion (USD 11.229 billion) year-on-year. Operating avail jumped to KRW 1.133 trillion (USD 878 million) resulting in a line of7.8 percent, 1.1 percent higher than the c whilom year.
On a progenitor heart the concern recorded sales of KRW 8.477 trillion (USD 6.566 billion) and an operating help of KRW 714 billion (USD 553 million). The Home Entertainment Company truism salesrising by 19.3 percent to KRW 4.509 trillion (USD billion), returning a advance of KRW 224 billion (USD 174 million) for a latitude of 5.0 percent, 4.7 percent higher than the above-named year, as a effect of strong non-gloss panel TV sales -- especially LCD TVs -- even during the off-season.
Shipments rose 45 percent YoY to 4.28 million units. The assemblage expects its unrealistic panel TV shipments in the third station to be even higher as outcry for regard models. The Mobile Communications Company reportedKRW 5.140 trillion (USD 3.981 billion) in sales, 25.8 percent higher than the preceding year, and operating literary behoof of KRW 545 billion (USD 422 million) with a leeway of 10.6 percent.
Handset sales accounted for KRW 4.877 trillion (USD 3.778 billion),up 29.9 percent YoY, and operating realize reached KRW 538 billion (USD 417 million) for a partition line of 11.0 percent.
Shipments of handsets recorded an better of 7.8 percent YoY and 32 percent QoQ to 29.82 million units thanks to rugged consumer in mid-tier models such as the choke-full touchscreen Cookie phone, QWERTY keypad messaging phone LG-KS360, a multimedia powerhouse feature-rich Arena with young S-Class UI, enV3 with a QWERTY keypad for messaging, and enV Touch with a QWERTY keypad and touchscreen.Profitability improved with a offshoot combination centered on callow subject launches and uninterrupted evolution from existing mid- to high-tier handsets.
With the epidemic monetary downturn expected to continue, LG sees the international bazaar declining over 6 percent YoY to around 280 million units in the third board but, as for LG, fellow proliferation is expected with the introduction of high-end devices such as the fourth pose in in the LG Black Label Series, smartphone GM730, and the one-of-a-kind GD900 Crystal with above-board keypad. The Home Appliance Company reported an further of 9.8 percent to KRW 2.339 trillion (USD 1.812 billion) year-on-year.
The currency brunt resulted in sales declining 14 percent on a USD lascivious but growing 10 percent for Korean won. Continuing problems in the habitation market-place slowed the measure of redemption of the territory appliances sedulousness but the company's issue competitiveness resulted in an operating verge of 7.7 percent, 2.9 percent higher from a year earlier, at KRW 181 billion (USD 140 million).
Looking at the third quarter, demand need is expected to wither YoY due to the non-stop downturn but the slant in the Stock Exchange is expected to lagging down. The Air Conditioning Company byword sales be created 1.8 percent to KRW 1.720 trillion (USD 1.332 billion) year-on-year with sales falling in US dollar vulgar but increasing in Korean won base.
Operating frontier resulted in a welfare of KRW 175 billion (USD 136 million) due to the nurturing in requisition of importance models. Despite the currentrecession, the business foresees supermarket ration growing in the third thirteen weeks in Korea, Europe, Australia and other markets in the southern hemisphere with more might unwasteful commercial show off conditioners and inverter-embedded residential products. The Business Solutions Company reported a 8.7 percent fade in sales YoY to KRW 1.016 trillion (USD 787 billion) with an operating interest of KRW 14 billion (USD 11 million).
The guest felt the greatest affect of the decline which resulted in falling want for monitors, automotive products and insurance devices. The comrades will meet on growing its sales of monitors as it enters the outrageous time for IT products and automotive products are expected to increase as the pandemic auto application getsback on track. Financial Statement and Non-operating Items on a Parent Basis LG recorded a recurring further of KRW 1.408 billion (USD 1.091 million) and a capture clean up of 62 percent to KRW 1.146 trillion (USD 888 billion) with a play of 13.5percent, 3.7 percent higher than a year earlier.
Foreign swap overtake of KRW 286 billion (USD 222 million) and open-mindedness way get to of KRW 461 billion (USD 357 million) from overseas subsidiaries and affiliates helped pushing up netting profit. LG Display, in which LG Electronics owns a 37.9 percent stake, booked an even-handedness arrangement elevation of KRW 112 billion (USD 87 million). 2009 3Q Business Direction and Prospects LG Electronics expects sales to thrive over 10 percent YoY as insist for LCD TVs and transportable phones continues to expand, with profitability comparable to pattern year's level. Earnings Conference and Conference Call LG Electronics will hold a Korean-language compensation newsflash talk on July 22, 2009 at 16:00 Korea Standard Timeat the LG Twin Tower Auditorium (B1 East Tower, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea).
An English-language congress phone will follow on July 23, 2009 at 10:00 Korea Standard Time (01:00 GMT/UTC). Participants are asked to denominate +82-31-810-3001 and enter the passcode 9084#. The corresponding award queue will be at one's disposal for download at the Investor Relations slice of the LG Electronics website (http://www.lge.com/ir/archive/main.jhtml). Please stop http://pin.teletogether.com/eng/ and pre-register with the passcode provided.
For those unfit to participate, an audio recording of the talk colloquium will be close by for a spell of 30 days after the conclusion of the call. The recording may be accessed by dialing +82-31-810-3100 and entering the pandect 142590# when prompted. About LG Electronics, Inc. LG Electronics, Inc. (KSE: 066570.
KS) is a wide-ranging bossman and technology innovator in consumer electronics, stingingly appliances and sensitive communications, employing more than 82,000 colonize working in 114 operations including 82 subsidiaries around the world. With annual worldwide revenues huge $40 billion, LG Electronics comprises five transaction units: Home Entertainment, Home Appliance, Air Conditioning, Business Solutions and Mobile Communications. LG is one of the world's greatest producers of unstationary handsets, dead panel TVs, declare conditioners, front-loading washing machines, optical storage products, DVD players and snug harbor theater systems. For more information, satisfy befall www.lge.com. Source: LG Electronics, Inc. Contact: Copyright 2009 ACN Newswire. All rights reserved.
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