Wednesday, October 22, 2008

Sales Up, Profit Down At LG

LG took a big Q2 hit, alledgedly on currency fluctuations.

Seoul, South Korea – LG Electronics reported that its net income declined 93 percent to $19 million, due in large part to a higher cost in foreign-currency debt resulting from a weaker won.
The drop in profit was the first for the company in the last six quarters, and came as revenue rose 21 percent to 6.89 trillion won ($5.24 billion).

On the bright side, mobile and display are way up, but still, that's gotta sting!

Sphere: Related Content

No comments: