7/24/2013 12:23:41 PM
LG breaks its smartphone shipments record
LG has broken its record for smartphone shipments, sending out 12.1m handsets during its second quarter, leading to an increase in sales and profit.
For its second quarter results to the end of June, sales were KRW3.12trn (£1.81bn), up 34.5% year on year. While operating profit was KRW61bn (£35.4m) a turnaround from the loss made in 2012, it just over half of its first quarter earnings. LG blamed weak demand in its home Korean market, price cutting amid high competition and a greater marketing spend.
LG said shipments of its L-Series II and F-Series will drive growth in its next quarter, with the forthcoming G Pro and G2 driving product competitiveness.
Author: Graeme Neill