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LG's figures demonstrating revenue and profit down


 

Posted: 29 Jan 2007

LG Electronics made known results of the fourth quarter of 2006 which display drops in revenue and operating profit, despite the fact that handset shipments rose, as well as the company's handset business revenue dropped the same. LG knew they have to do smth in order to regain stability and in December they shuffled at least 35 executives, including its corporate chief executive and its handset business chief executive.

Handset division shipped 17 million handsets in the fourth quarter and handset business revenue constituted $2.3 billion. LG's operating profit in its handset business was $62.8 million.

Parent corporation revenue in the same quarter reached $5.9 billion. The company posted a loss of $46 million in operating profit.

LG displayed $24.2 billion in revenue for the whole year that is a 3-percent down from 2005, along with net profit of $222 million.

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