LG records third-quarter loss

LG has recorded a net loss of $366 million, it announced yesterday, despite a record number of shipments for flat-screen televisions. The figures show shipments of televisions rose by 37% to 6.6 million units, a record for a single quarter. However, LG Mobile communications revenue fell by 30% year-on-year, “as a result of a decline […]

Patrick Stafford 27 October, 2011

LG has recorded a net loss of $366 million, it announced yesterday, despite a record number of shipments for flat-screen televisions.

The figures show shipments of televisions rose by 37% to 6.6 million units, a record for a single quarter.

However, LG Mobile communications revenue fell by 30% year-on-year, “as a result of a decline in handset shipments across developed markets”.

LG shipped 28.4 million handsets during the quarter, which is a 32% decline over the year. However, it says the introduction of new Windows Phone models should help this area of the business.