It looks like things may be looking up for LG’s smartphone business. The company has announced its latest financial results for the 2nd quarter of 2013.
LG has announced that they shipped a total of 123.1 million smartphone between April and June of 2013, this is the most handsets LG has managed to ship in a single quarter.
The LG Mobile Communications Company continued to improve its position in the second quarter recording revenues of KRW 3.12 trillion (USD 2.78 billion), an increase of 34.5 percent from the same period last year. The company shipped 12.1 million smartphones in the second quarter, a new quarterly unit sales record for LG. Operating profit increased year-over-year to KRW 61 billion (USD 54.37 million) but declined from the previous quarter as a result of weaker demand in the Korean market, lower average selling price due to increased competition, and higher marketing investments. Shipments from mass-market smartphone models such as L-Series II and F-Series are expected to drive sales growth, while high-end products such as G Pro and LG G2 should increase the company’s product competitiveness.
LG are expected to announce their new LG G2 shortly, and it will be interesting to see if the handset can help LG improve their sales further.
Source LG