SEOUL, KOREA- LG U+ announced on October 28 that it posted an operating profit of 149.2 billion won for the third quarter of this year, in a turnaround from a loss a year ago. Its overall sales also rose by 2.1 percent to 2.87 trillion won.
LG U+ attributed the strong results to the rapid increase in wireless-related sales, backed by its steady growth in the LTE market since 2011, plus the strong performance of its fixed line business, centering on TPS and data area.
An LG U+ official said, “We achieved an improvement in operating profit thanks to steady growth in overall business areas, including LTE services and IPTVs.”
LG U+’ LTE subscribers reached 6.55 million people, up 83.8 percent from a year ago and up 11.1 percent compared to a quarter ago.
Together with the growth in wireless business, LG U+’s fixed line business also marked a healthy growth in sales to 771.8 billion won, up 3.1 percent year on year and 1.3 percent quarter on quarter.
