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LG posts Q2 mobile loss as G5 fails to sell

2016-07-28 07:42:00| Telecompaper Headlines

(Telecompaper) LG Electronics reported profits under pressure in the second quarter, led by losses at its mobile division as its latest flagship smartphone failed to sell enough. Revenues were up 0.6 percent year-on-year to KRW 14.00 trillion, as growth in its other divisions helped offset the weak performance in mobile. Operating profit dropped to KRW 584.6 billon from KRW 505.2 billion a year ago, while lower financial and one-time costs helped net profit rise to KRW 268.5 billion from KRW 198.1 billion. Mobile revenues fell 6 percent year-on-year to KRW 3.33 trillion, as smartphone shipments dropped 1 percent over the same period to 13.9 million. LG said it generated some KRW 150 billion in operating losses due to the increased marketing expense for the launch of its flagship G5, but the phone has to date sold less than hoped.

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BT posts underlying revenue growth, but EE sales slide

2016-07-28 02:00:00| Total Telecom industry news

U.K. incumbent presents solid Q1 figures, confirms full-year outlook; new mobile unit posts lower revenues than in year-ago quarter.

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Softbank posts healthy financials despite Sprint

2016-07-28 02:00:00| Total Telecom industry news

Japan-based telco reports 2.9% rise in revenue, profit dips 8.9%.

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Telefonica posts 1H revenue, earnings growth

2016-07-28 02:00:00| Total Telecom industry news

Spanish telco confirms 2016 guidance, including 0.75-per-share dividend.

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Waste Management Posts Higher Q2 Revenues; Names Fish President

2016-07-27 21:03:00| Waste Age

The company posted positive commercial collection volumes for the first time since 2005. read more

Tags: management posts higher names

 

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