SEOUL, April 27 (Korea Bizwire) — LG Electronics Inc. on Thursday said its operating profit for the January-March period declined 23 percent from a year earlier amid the on-going macroeconomic woes that dampened consumer demand. The South Korean tech company posted a first-quarter operating profit of 1.49 trillion won (US$1.1 billion), down 22.9 percent from [...]
SEOUL, April 27 (Korea Bizwire) – Samsung Electronics Co. on Thursday reported its worst quarterly profit in 14 years, as global economic woes dented demand for consumer electronics and a chip glut battered its core business. The world’s largest memory chip and smartphone maker reported operating profit of 640.2 billion won (US$478 million) during the [...]
SEOUL, April 27 (Korea Bizwire) — Samsung SDI Co. said Thursday its first-quarter net profit rose 28 percent from a year earlier as surging demand for electric vehicle (EV) batteries gave a boost to the bottom line. Net income reached 464.5 billion won (US$347 million) in the January-March period, compared with 362.6 billion won the [...]
SEOUL, April 26 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, said Wednesday its first-quarter net profit more than doubled from a year earlier on increased production and an improved product mix. Net profit for the three months ended in March jumped to 2.119 trillion won (US$1.58 billion) from 1.032 trillion won [...]
SEOUL, April 26 (Korea Bizwire) — LG Display Co. reported its fourth consecutive quarterly loss Wednesday as sluggish demand for smartphones, TVs and computers continued to stymie its panel business. The major panel maker reported an operating loss of 1.09 trillion won (US$815 million) for the January-March period, compared with a profit of 38.3 billion [...]
SEOUL, April 26 (Korea Bizwire) — SK hynix Inc. said Wednesday it logged losses for the second consecutive quarter, as a worsening macroeconomic climate dented demand for semiconductors used in PCs and other digital products, and a continued chip glut wiped out profits. The world’s second-largest memory chip maker said in a regulatory filing its [...]
SEOUL, April 26 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday its first-quarter net profit more than doubled from a year earlier, in line with the earlier earnings forecast, on strong electric vehicles (EV) demand in North America and benefits from a new U.S. law on EV subsidies. Net profit for the three months [...]
SEOUL, April 25 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday its first-quarter net profit jumped 92 percent from a year earlier on increased production and an improved product mix. Net profit for the three months ended in March rose to 3.42 trillion won (US$2.56 billion) from 1.78 trillion won during the same [...]
BUSAN, April 22 (Korea Bizwire) — Renault Korea’s strong sales of the popular XM3 led to the company’s return to profitability last year. According to Renault Korea’s announcement on Saturday, the company achieved sales of 4.86 trillion won (US$3.65 billion), operating profit of 184.8 billion won, and net profit of 125.5 billion won in [...]
SEOUL, April 7 (Korea Bizwire) — LG Electronics Inc. on Friday said its operating profit for the January-March period likely declined 23 percent from a year earlier amid the on-going macroeconomic woes that dampened consumer demand. The South Korean tech company estimated its first-quarter operating profit at 1.49 trillion won (US$1.1 billion), down 22.9 percent [...]