4/24/2013 5:22:07 PM
Smartphone profits leap fourfold at LG
A record smartphone performance boosted LG's phone division to record a fourfold increase in profit, the manufacturer has revealed.
It shipped 10.3 million handsets in the three months to the end of March, its highest ever figure since launching smartphones. It had sales of 3.21 trillion Korean Won (£1.94bn), up 28.5% on the same period last year. The manufacturer said sales of its L-Series, the Google Nexus 4, plus the international performance of the Optimus G and Optimus G Pro, drove sales. Operating profit was 133bn Korean Won (£80.5m). LG said it was planning to up shipments in its current trading quarter.
However, the phone wing's performance failed to arrest a plummet in net profits at the wider company, down 90% to 22.1bn Korean Won (£12.9bn).
Author: Graeme Neill