Record growth for Lg Appliances

Lg Electronics announces the results for third quarter 2015, that shows very good results for Home Appliance & Air Solution Company, while it was a weak period for other areas, like Tv and smartphones, due to a stronger competitive pressure. So the overall Lg Electronics’ net profit reached KRW 124.8 billion (USD 106.76 million), sales rose 0.7 percent from the second quarter to KRW 14.03 trillion (USD 12 billion), while operating profit increased from the previous quarter to KRW 294 billion (USD 251.5 million). The Lg Home Appliance & Air Solution Company reported a 4 percent increase in sales to KRW 4.15 trillion (USD 3.55 billion) and an operating profit of KRW 245.6 billion (USD 210.1 million), an increase of 420 percent from the same period the year before. A very good performance was that of refrigerators, thanks to the strong sales of premium models in North America and Korea while the unique new Twin Wash system contributed toward improved profit margins in the washing machine business. Fourth-quarter results are likely to be impacted by the effects of unfavorable exchange rate and seasonality.