SEOUL (Dow Jones)--LG Electronics Inc. (066570.SE) Tuesday said it expects mobile handset shipments to reach 13 million units in the fourth quarter, up 45% on year.
In the GSM, or global systems for mobile communications, markets, the company said it expects a "slight" slowdown in North America. However, it said it sees an on-quarter increase in sales growth in Europe and other regions.
LG said it also expects "strong" growth in the CDMA, or code division multiple access, markets overseas in the fourth quarter, especially in North America. But it warned that the weak domestic economy would mean shipments in the home market would be similar to third-quarter levels.
Earlier Tuesday, LG Electronics said its third-quarter net profit rose 36% on year, thanks to a rise in mobile handset shipments.
South Korea's largest home appliances maker said net profit for the three months to September was KRW304.4 billion, up from KRW223.8 billion a year earlier.
Shares of LG Electronics closed down 0.5% at KRW66,300.
-By Yun-Hee Kim, Dow Jones Newswires; 822-732-2165; yun-hee.kim@dowjones.com
-Edited by Sarah C. de Mesa
(END) Dow Jones Newswires"
Posted to the site on 19th October 2004
Posted to: www.cellular-news.com/story/11199.php