LG Electronics, who claim that they are the #1 consumer electronics brand in Australia, have reported higher quarterly sales and profits due to strong mobile phone and flat-panel TV sales. In their latest report sales have jumped 22.1 percent to $12.534 billion and operating profit was $843 million, which results in a 6.7 percent profit margin for its fiscal second quarter, ended June 30.
The 61% increase in revenue and the 70% increase in profits by JB Hi Fi bode well for the consumer electronic industry. It also sends a clear message that consumers are changing their buying habits with many of them prepared to spend money on games, new TV's and notebooks than over fashion items or the occasional holiday.
Retravision is doomed say several CE Vendors with Narta the consumer electronics and appliance buying group for David Jones, JB Hi Fi, Bing Lee and several other leading retailers set to be bolstered by the sale of Retrovision's largest retailer RT Edwards of South Australia to Radio Rentals.
Department store group Myer who have cranked up their consumer electronic offerings of like to compete head on with the likes of Harvey Norman and JB Hi Fi have delivered a 40% increase in net profits.
Retailer Clive Peeters is out performing the market. They are also is set to crank up their catalogue marketing, roll out a major new online initiative and expand their service offering claims their CEO.
After struggling for years in the IT market, Samsung Australia is now reaping the benefits of a major restructure, with the company now reaching revenues of $18.5 million dollars a month compared to $6 million a year ago.
The Federal Court has found that an e-commerce marketing company that advertised products as being discounted when they had never been offered at the full price operated in a misleading and deceptive manner.