July 24, 2014 3:53pm
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.
The news comes just ahead of the Canadian launch of the LG G3, which is scheduled for August 1. It will be priced at $700 off contract on Bell (and presumably) other carriers as well). The Canadian version of the phone will feature a 2.5 GHz Snapdragon 801, 3 GB of RAM, and 32 GB of internal storage. It will support LTE on AWD as well as 2600 and 700 MHz. The LG G3’s hero feature is the screen, which measures 5.5 inches and boasts a 2560×1440 pixel resolution. The phone also has a 13MP camera, support for MicroSD and a 3,000 mAh battery.