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Sunday, August 10, 2014

LG sells a record 14.5 million smartphones as profits nearly triple

LG has just reported a record quarter for mobile phone sales, showing that it's taking advantage of a slump
from arch-rival Samsung. LG sold 14.5 million handsets over the last
quarter, its highest total ever and 20 percent more than last year --
with more than a third of those LTE models. It chalked up most of the
success to its well-reviewed top-of-the-line G3
handset, along with strong sales of its mid-range L products. LG's
mobile division scooped up KRW 3.6 trillion ($3.5 billion) and put an
end to three straight quarters of losses. Home entertainment also
performed well, climbing 3 percent on the strength of higher-margin UltraHD 4K sets. All that resulted in an operating profit of KRW 412 billion ($599 million) -- not nearly Samsung-level numbers, but at least LG's are going up, not down.

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