Thinkware Q3 Operating Profit 2.3 Billion KRW...38.3% Decrease YoY
[Asia Economy Reporter Junhyung Lee] Thinkware announced on the 10th that its operating profit for the third quarter of this year was 2.3 billion KRW, a 38.3% decrease compared to the same period last year.
During the same period, sales amounted to 54.5 billion KRW, a 0.2% decrease compared to the same period last year. Net profit recorded was 1.8 billion KRW.
The overseas business showed growth. Overseas business sales in the third quarter of this year reached 12.9 billion KRW, a 19.9% increase compared to the same period last year.
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Kang Jung-kyu, Head of Management Division at Thinkware, said, “Sales through North American online channels such as Amazon are increasing, and sales in major export countries like Japan are also generally on the rise.” He added, “Due to the year-end special effects such as Black Friday expected in the fourth quarter, overseas sales this year are expected to surpass 40 billion KRW.” Kang also stated, “Quarterly profits may show some volatility due to one-time costs such as development expenses related to new businesses, but we are continuing efforts to reduce costs and improve cost efficiency, which will have a long-term positive effect.”
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