LG posts Q4 2011 results

LG Electronics has announced its fourth quarter 2011 consolidated revenues, which hit $12.05 billion with an operating profit of $20 million.

Quarter-on-quarter revenue growth reflected strong performance in home entertainment and home appliances with improved operating profit in the mobile and TV businesses.

Full-year 2011 consolidated revenues reached $48.97bn and despite a 2011 net loss $391m, operating profits improved significantly $253m from $153m for full-year 2010.

The LG Home Entertainment Company shipped a record 8.8m flat panel TVs from October to December, increasing revenues 17.6% from the previous quarter $5.5bn. While quarterly sales declined modestly from the 2010 period, a strong 2011 holiday season and more premium product mix led by Cinema 3D TV resulted in an operating profit of $130.9m in the fourth quarter of 2011. Full-year 2011 home entertainment sales $20.2bn with operating profit of $382m.

For 2012, LG is planning to continue strengthening its position in 3D and Smart TVs with a broadened line of TVs with Cinema Screen design and quality content.

The LG Mobile Communications Company improved its position in the fourth quarter with operating profits of $10m and sales of $2.42bn on the strength of premium smartphones such as Optimus LTE. For full-year 2011, the company posted sales of $10.55bn, a decline of 9.9% from 2010.

For 2012, the company is planning to continue to strengthen its position by focusing on strategic markets with expanded smartphone line-up led by LTE smartphones.

LG Electronics is targeting a revenue goal of $53.8bn for 2012, with plans to spend $1.5bn in capital expenditures and to invest $2.43bn in research and development.