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LG ships record 12.1 mln smartphones in Q2
2013-07-24 08:59:00| Telecompaper Headlines
(Telecompaper) LG Electronics reported a 10 percent rise in sales in the second quarter, led by strong shipments of its mobile phones. Revenues were up 10.1 percent year-on-year to KRW 15.23 trillion (USD 13.58 billion), and the mobile division grew sales 34.5 percent to KRW 3.12 trillion. LG shipped a record 12.1 million smartphones in the quarter, more than double the year earlier and up 17 percent from Q1 and also reported increased sales of mass market devices, including its L and F series phones. Operating profit at the mobile division improved to KRW 61 billion from a loss of KRW 28 billion a year ago, but was down versus Q1 on weaker demand in Korea and lower average selling prices due to competition and higher marketing costs. Group operating profit fell to KRW 479 billion from KRW 527 billion a year earlier due to the weak TV market. Net profit fell to KRW 156 billion from KRW 169 billion, but was up compared to Q1. For the current quarter, LG said it expects continued growth from mass-market and LTE phones, while its new high-end devices such as the G Pro and G2 should strengthen its position in the premium segment.
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Category:Telecommunications