LG: good performance of the home appliance in the third quarter

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LG Electronics announced third-quarter consolidated revenues of KRW 15.7 trillion (USD 13.15 billion) and operating profit of KRW 781.4 billion (USD 654.4 million) for the July-September period. Sales increased by 1.8 percent and operating income was 4.4 percent higher compared with the same period last year, primarily due to the strong performance of the home appliance, home entertainment and business solutions business units, while losses narrowed for mobile communications in the quarter. The LG Home Appliance & Air Solution Company reported its highest third-quarter sales of KRW 5.33 trillion (USD 4.46 billion), increasing nearly 10 percent from the same period last year thanks to strong performance in North America, Europe, Asia and the Middle East. Operating income of KRW 428.9 billion (USD 359.2 million) represented a 3.8 percent increase from the third quarter last year due to a combination of improved sales, ongoing cost reductions and lower raw material prices.

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