LG provided a report earnings for the third quarter

Due to lower sales of smart phones, the statement of income for the 3rd quarter 2015, LG Electronics is disappointing.

LG provided a report earnings for the third quarter

Earlier this week, the Korean conglomerate issued its earnings report, which showed that net profit decreased by 48% to 83.7 billion won ($ 73.7 mln.). This FactSec, financial analyst firm originally predicted LG 146.5 billion won ($ 129.1 million) profit. Total sales decreased by 5% – up to 14 trillion won ($ 12.3 billion), operating profit fell by 37% to 294 billion won ($ 259.1 mln.).

Mobile sales results showed 77.6 billion won ($ 68.4 mln.), The shipment was 15 million smartphones during this period. Device sales were attributed to the high-level models, these were smartphones average and no price segment.

Nevertheless, the company continues to remain optimistic with regard to the 4 th quarter, considering that it would be more profitable because of sales LG V10 and Nexus 5X.

It can be considered as positive the fact that for the first time this year LG TV business brought income. As a result, more than 80% of the total profit in the 3rd quarter was generated division of household appliances.

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