LG Q2 2012 earnings show a loss on cellphones, but higher profits overall thanks to home theater

LG has released its earnings statement for the Q2 2012 period, the claim of "turning a corner" in Q1 has just managed to hold up as it registered net profits of $138 million, up 46 percent from the same period last year. Revenues, while higher than Q1, were actually down from last year and blamed on declines in featurephone sales and slow sales of IT products. The mobile division also struggled after a strong Q1 and took an operating loss, however the positive takeaways are a rising percentage of smartphone shipments and plans to launch new LTE-connected models in North America (we've spotted the likely Spectrum 2 for Verizon already), Europe and Asia later this year. The good news for the home theater segment continued however, with an operating profit of more than double last year at $187.5 million despite slightly lower sales due to an increase in sales of premium products like its Cinema 3D HDTVs, which it expects to become the "top global seller" in the 3D segment. There's more details in the press release after the break or PDF linked below if you need more numbers.

Continue reading LG Q2 2012 earnings show a loss on cellphones, but higher profits overall thanks to home theater

LG Q2 2012 earnings show a loss on cellphones, but higher profits overall thanks to home theater originally appeared on Engadget on Wed, 25 Jul 2012 00:36:00 EDT. Please see our terms for use of feeds.