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LG Cell Phone Lovers » Blog Archive » LG swings to a loss as TV, phone sales slump

LG swings to a loss as TV, phone sales slump

LG swings to a loss as TV, phone sales slump
News from CNET:

The Thrill 4G is among the latest wave of smartphones to come out of LG.

(Credit: Roger Cheng/CNET)

LG Electronics swung to a loss in the third quarter as its television and handset businesses suffered a sharp decline in sales.

LG reported a third-quarter loss of 414 billion Korean won ($ 366 million), compared with a year-earlier loss of 8 billion Korean won. Revenue fell 4 percent to 13.4 trillion Korean won ($ 11.8 billion).

The chief culprits came from the handset and television business. LG’s handset business saw declining sales in both its basic phone business, which it has been purposely ratcheting down, as well as its more profitable smartphone business. Unlike other handset manufacturers such as Samsung Electronics or HTC, the company has yet to truly crack the market with a breakout hit smartphone using
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