International. LG's Home Entertainment division was consolidated in the first three months of 2012 as the fastest growing business area within the company.
This was reflected in the revenues of US$91.9 million generated by this division so far this year, in addition to representing an increase of 50% compared to the figures obtained in the same period of 2011.
According to company spokespersons, the increase in sales of the new 3D and Smart TVs and improvements in the supply chain were responsible for the good results for the period. Also, the sporting events that will be held this year (Olympic Games) influenced the increase in demand for these devices.
As for the company's overall figures, for the first quarter of 2012, the company's net profit reached US$214.9 million, a result that LG highlighted as very positive, especially considering that the previous two quarters reflected losses.
The company's total revenue reached $10.8 billion for an operating profit of $396.1 million, LG revealed in its unaudited consolidated financial results report.
