SEOUL, KOREA - LG U+ has returned to the black in the second quarter of this year thanks to its strong LTE performance. The company announced on July 29 that it posted a sales revenue of 2.76 trillion won and an operating profit of 1.93 trillion won for the second quarter, on a K-IFS basis.
Its second-quarter revenue fell by 0.9 percent year on year due to a decline in sales of devices. Its operating income, however, rose by 10.6 percent from a year ago and 4.7 percent compared to a quarter ago, thanks to an increase in wireless and fixed-line service incomes.
In particular, the company posted an operating profit of 144.8 billion won due to an increase in operating incomes plus a decline in marketing expenses, in a turnaround from a loss a year ago.
The company revealed that its wireless service income amounted to 1,173 billion won, up 18.6 percent year on year and up 6 percent compared to a quarter ago, on the back of an increase in service incomes resulting from an increase in the number of LTE subscribers.
As of the end of June, the number of its LTE subscribers reached 5.9 million, about a 128.9-percent increase compared to a year before. Fixed-line service income also rose to 762 billion won, up 3.2 percent from a year ago and 0.3 percent compared to a quarter ago.