LG Shipped 14.5 Million Smartphones in Q2, Up 20 Percent, as Phone Business Turned a Profit
Korea’s LG Electronics said on Wednesday that its mobile unit turned profitable in the second quarter as the company shipped a record 14.5 million smartphones, up 20 percent year over year and 17 percent from the prior quarter.
Sales were 3.62 trillion Korean won ($3.51 billion), the highest level since the first quarter of 2010, and the company turned an operating profit of $83.4 million, ending three straight quarters of losses.
The company credited strong initial sales of its flagship G3 and noted that phones with LTE capabilities have accounted for a third of shipments this year. The company said it plans to continue rolling out the G3 globally and add additional variants, including the recently announced G3 Beat.