As earnings season rolls forward, LG has joined the slew of companies reporting quarterly results. Though the company is celebrating its strongest quarter profit in three years, it was the success of its own smartphone business that LG chose to highlight.
According to LG, the LG Mobile Communications Company has shipped a record-high of 14.5 million smartphones in the second quarter alone. This represents a 20 percent increase compared to the same period last year, and a 16 percent increase over Q1, when LG shipped “just” 12.3 million phones. The mobile division’s Q2 operating profit of $83.4 million US marks the end of three consecutive quarters of losses. LG credited the upcoming LG G3, which is already available in Korea, for contributing to such a successful quarter. The company predicted higher revenues due to the G3 when it reported Q1 earnings back in April. (more…)