LG Electronics (LGE), a leading global manufacturer of premium consumer electronics and cutting edge technologies, recently announced their unaudited sales and profit earnings for the fourth quarter for the year of 2006.
Reports released from LGE’s headquarters indicated that the firm’s sales between October 1st and December 31st 2006 had reached a total of US$ 5.886 billion, to total up to 9.8% quarter on quarter increase in sales volume.
LGE’s global annual sales earnings for the year 2006 reached up to US$ 38.46 billion, an increase of 3% in comparison to figures from the year 2005. During the fourth quarter of 2006, LGE also recorded a total of US$ 2.505 billion in sales from its Mobile Communication division alone, 2.3% higher than the previous quarter. Revenues from its handset sales rose by 2.9% when compared to handset revenues generated from the previous quarter.
A total of 17 million LGE handsets were shipped to LGE outlets around the world during quarter ending December 31st, to the result of 64.4 million handset units shipped in 2006.
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From the Digital Display division, sales revenues were as equally striking, as its global sales for the fourth quarter of 2006 were recorded to be US$ 1.279 billion with a 55% rise in demand for Plasma TVs, and a 72% rise in LCD TVs during for that period.
As for LGE’s Digital Appliance division, sales witnessed an impressive growth as well. Sales volumes from that unit marked a year-on-year rise of 5.8%, a total of US$ 1.397 billion. This rise is attributed to strong premium product sales such the three-door refrigerators and steam drum-type washing machines.
Commenting on these figures General Manager of the LGE Amman Branch, Mr. Kevin Cha said, “The global electronics market has witnessed high levels of competition, however thanks to our unprecedented technological know-how, we at LGE have solidified our global presence once again. These results add to our portfolio of achievements, and accordingly, show our true commitment to excellence that has become second nature to all LGE team members around the globe. I am proud of what we achieved and look forward to more glory to come”.
Mr. Cha added that he anticipates profitable growth and market leadership in LGE’s business for the year 2007. Commenting further on his outlook for the upcoming year he said, “In our display division, we at LGE aim to increase market share in flat panel display TVs. We aim to achieve this by reinforcing full HD product line-ups and channel coverage, creating active sales initiatives for our appliance division, air conditioners and our high-tech focused premium products as well”.
From his end Mr. Ghazi Farouq the Assistant Managing Director for Marketing at the Middle East Complex, an agent for LGE products in Jordan added that MEC is a channel for boosting LGE’s sales and its performance in the Kingdom. Commenting further on MEC’s partnership with LGE, Mr. Farouq said, “It is our mission to enhance and maintain LGE’s leading position in Jordan, and position Jordan’s market as a successful, sustainable, and effective commercial base. To achieve this, we need to continuously introduce to Jordanians all that is new and innovative from LGE. -
Furthermore, LGE’s strong presence in the Jordanian market is perpetually enhanced by way of our standard-setting premium products coupled with our strong corporate social responsibility initiatives that we carry out regularly to give back to the consumers and community that have ranked LGE as the number one choice.”
The LGE Jordan management team is very optimistic about the strength that LGE has in the Jordanian market, as both LGE and its agents are committed to making “Life Good” for all who choose LGE as the provider of their technology related needs.
About LG Electronics, Inc
LG Electronics, Inc. (KSE: 06657.KS) is the global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in over 120 operations including 80 subsidiaries around the world. Comprising four business units: Mobile Communications, Digital Appliance, Digital Display and Digital Media with global sales at USD 38.6 billion as of 2006. LG Electronics is the world’s largest producer of CDMA handsets, air conditioners, optical storage products, DVD players and home theater systems. For more information, please visit www.lge.com
