24 October 2003 16:36
S Korea - LG Electronics sells 7.6 million mobile handsets
LG Electronics (LGE), the S Korean consumer electronics manufacturer, posted Won4.92 trillion in sales, up by 21.7%
compared to Q3 2003 thanks to healthy exports. Its Telecommunications Equipment and Handset division reported Won1.94
trillion in revenues, a 37.1% increase year on year. Although failing to show clear signs of recovery, the mobile device
category exhibited improved sales performance and profitability as overseas demand increased in North America, India,
China, and Russia and ratio of high value-added products increased. The mobile device division posted Won1.39 trillion
in sales, up by 46.8% compared to the previous year. Similarly, the system/PC category recorded Won547.80 trillion in
sales, up by 15% year on year. Only Won6 million worth of CDMA mobile devices were supplied to the domestic market
during the third quarter, showing a similar trend as in the second quarter. Recording 1.6 million units in sales, GSM
mobile devices also posted 116% higher volume year on year as the company forged new businesses with large companies
such as in the United States and in Europe. LGE supplied 7.6 million mobile handsets in the third quarter, posting a
cumulative total of 18.5 million units as of the third quarter. This year expects to see a supply 26 million units, up
by 60% compared to last year. LGE revealed that exports and expanded growth in the mobile handset business were
responsible for the Won19.6-19.8 trillion in sales for 2003, up by 15-16% compared to last year.
[AIW [Asia Africa Intelligence Wire]] |
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