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LG Handset Sales Drop in 1Q

Wed, 04/28/2010 - 7:54am
Maisie Ramsay

LG Electronics says its handset sales fell almost 20 percent in the first quarter, but the company managed to swing to a profit on the success of its home entertainment, appliance and enterprise segments.

The company says handset sales fell to KRW 3.14 billion, or $2.8 million USD, from last year's figure of KRW 3.91 billion.

LG's handset shipments fell sequentially to 27.1 million in the first quarter from 33.9 million in the fourth quarter of 2009.

LG's mobile communications business, which includes its handset division, also posted steep sales declines as revenue fell to KRW 3.42 billion, or $3.05 million U.S., from KRW 4.24 billion last year.

Overall, LG swung to a profit of $603.45 million compared to last year's loss of $178.8 million.

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