LG Reports Record Quarterly Loss – Sees Tough Year Ahead January 23, 2009
Posted by aikservices in Asia, Financial, LG Electronics, Mobile, South Korea, Telecom, Wireless.Tags: Asia, Financial, LG Electronics, Mobile, South Korea, Telecom, Wireless
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South Korea’s LG Electronics has swung to a record fourth quarter loss on slowing handset and flat-screen sales – and warned that it sees little upside for the rest of 2009. The firm reported a net loss of KRW 671 billion (US$493 million) on sales of KRW 6.59 trillion (US$4.84 billion).LG’s mobile phone division reached a company high of KRW 4.49 trillion (US$3.3 billion) in sales, 34.6% higher than a year earlier. Handset sales accounted for KRW 4.09 trillion (US$3.0 billion), up 40.3% YoY and 16.5% QoQ.
Shipments of handsets recorded 8% growth YoY to 25.7 million, which resulted in a record 100.7 million units being sold in 2008 versus 80.5 million units in 2007. Operating profit margin declined 8.8% YoY and 11.5% QoQ to 5.2% in the handset division due to increased marketing to minimize year-end inventory.
South Korea ends 2008 with 45.6 mln mobile subscribers January 7, 2009
Posted by aikservices in Asia, KTF, LG Telecom, Mobile, SK Telecom, South Korea, Telecom, Wireless.Tags: Asia, KTF, LG Telecom, Mobile, SK Telecom, South Korea, Telecom, Wireless
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South Korea ended 2008 with 45.61 million mobile subscribers, up from 48.46 million at end-December 2007, figures from the mobile operators show. SK Telecom led with 52,000 net adds in December 2008, bringing its total to 23.03 million mobile subscribers. Rival KTF ended the month with 14.37 million customers, after adding 36,000 new subscribers. Smallest operator LG Telecom ended the year with 8.21 million subscribers as the company gained 23,303 subscribers in December.
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