SEOUL, KOREA - LG U+ saw its operating profit rise sharply in the third quarter of this year, although its sales suffered a negative growth. This is attributable to the decline in marketing expenses resulting from eased wireless competition.
LG U+ announced on October 27 that it posted sales of 2.76 trillion won for the third quarter of this year, down 4.1 percent year on year, with its operating profit estimated at 174.5 billion won, up 17 percent year on year.
The company attributed the strong growth in operating profit to the fall in marketing expenses. The company spent 477.2 billion won as marketing expenses for the third quarter of this year, down 13.2 percent from a year ago.
By business, wireless income rose 6.5 percent to 1.29 trillion won thanks to the increase in the number of LTE subscribers. The average revenue per unit for wireless service stood at 36,159 won, up 4.8 percent from a year before.
Source by : The Korea Economic Daily
