LGE mobile revenues drop 19.4% year-on-year; profit falls 90%

LG Electronics’ Mobile Communications division has reported a 19.4 per cent fall in sales revenues year-on-year for the first quarter of 2010, which it attributes to the low season and a decline in mobile phone prices. For the quarter ending March 31, revenues reached KRW 3,422 billion (US$3.057 billion), down from KRW 4,245 in Q109. Operating profit was down 90 per cent to KRW 24 billion from KRW 239 billion a year earlier.

For the Handsets unit of Mobile Communications, sales declined 19.7 per cent to KRW 3,140 billion with operating profit dropping 88.8 per cent to KRW 28 billion.

In regards to handset shipments, the third-largest handset manufacturer after Nokia and Samsung reported 27.1 million devices shipped during the quarter. Shipments were down 20 per cent quarter-on-quarter but rose 20 per cent year-on-year.