LG 3rd Quarter 2006 Results

[Barry]

LG reported quarterly revenue for mobiles was $2.2 billion—a 5-percent jump from the previous quarter, but down slightly from the year-ago quarter’s revenue of $2.4 billion.

The mobile handset business earned $83 million on its $2.2 billion in sales, an improvement from its loss last quarter, but down from its $129 million profit on $2.4 billion in sales in the year-ago quarter.

Total handset shipments were 16.5 million units, up 7 percent from the year-ago quarter. By technology, 10.5 million were in CDMA handsets—reflecting a U.S.-centric approach—5.6 million were in GSM and a mere 500,000 were in W-CDMA. The vendor reported that CDMA shipments were up by 14 percent over the previous quarter due to the launch of its Chocolate handset in the US.

LG’s outlook for the fourth quarter focused on follow-up models to the Chocolate phone in CDMA, including music-centric handsets, global expansion in the GSM market and an upswing in demand in Europe, Japan and the United States in W-CDMA sales.

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