Business IdeasLG Electronics Q3 global sales soar to $11.2 bn
Consumer durables major LG Electronics today reported a robust third-quarter performance, with global sales soaring 16 per cent to 13.9 trillion Korean won (about $11.2 billion) as compared to year-ago period.
- LG to invest Rs 25 cr in home appliances category - Early Diwali cheer for consumer durables firms - Panasonic to double sales in India to Rs 4500 cr - Sony India targets 25% growth for Diwali in Andhra - SC notice to LG Electronics on I-T dept"s plea - Philips to up investment in India, China by 27%
LG, which has a significant presence in India, recorded sales of $11.2 billion including those from its overseas subsidiaries in the September quarter, the company said in a statement.
Operating profit climbed to 850 billion Korean won (about $685 million).
The parent company alone saw its net profit in the third quarter soar to 807 billion Korean won compared to just 25 billion Korean won in the same period a year ago.
Going by the statement, the firm"s sales shot up to 7.87 billion Korean won in the September quarter.
In the fourth quarter, the company expects demand for its products to pick up in "emerging countries such as China and India".
According to the company, the focus would be on enhancing brand awareness through aggressive marketing apart from cost innovation to increase the profitability.
"(The) Focus (would be) on recovering back to pre-recession sales level and strengthen brand awareness through aggressive marketing," the statement added.