Your Web News in One Place

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
October 26, 2011 06:48 am EDT

LG posts a net loss for Q3, loses ground in mobile sales

The Q3 numbers for LG are in, showing its cellphone unit lost money for the sixth straight quarter, with profits coming from the home appliance and air conditioning units. On the home entertainment side, it shipped more flat panel TVs than ever before (6.8 million) and despite lower revenues managed to improve operating profit by selling more of its high end Cinema 3D and LED-lit HDTVs. Unfortunately for the mobile division, sales were down 8.5 percent from last year and the company recorded a $128.47 million operating loss. Making things worse, Reuters reports its rival Samsung is expected to report strong profit in mobiles on Friday, and pass Apple as the world's biggest smartphone seller on the back of its Galaxy S line. We don't know if LG will be able to turn things around anytime soon, but giving the Optimus LTE an Ice Cream Sandwich finish and shipping it sooner rather than later couldn't hurt.

Continue reading LG posts a net loss for Q3, loses ground in mobile sales

LG posts a net loss for Q3, loses ground in mobile sales originally appeared on Engadget on Wed, 26 Oct 2011 02:48:00 EDT. Please see our terms for use of feeds.

Permalink | ||Comments

Original Link: http://www.engadget.com/2011/10/26/lg-posts-a-net-loss-for-q3-loses-ground-in-mobile-sales/

Share this article:    Share on Facebook
View Full Article

Engadget

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

More About this Source Visit Engadget