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LG smartphone shipments soar 26% to 15.4 mln in Q1
2015-04-29 08:40:00| Telecompaper Headlines
(Telecompaper) LG Electronics announced a net profit of KRW 38.4 billion in the first quarter, up 0.3 percent from the year before but rising significantly from the loss of over 205 million reported in the fourth quarter. The operating profit lifted 2.2 percent from the year earlier to KRW 305.2 billion. Revenues were virtually unchanged at KRW 13.99 trillion, with soaring smartphone sales offset by modest revenue declines in TVs. LG's mobile division recorded its highest first-quarter revenues since introducing its first Android device in 2010, with shipments rising 26 percent year-on-year to 15.4 million smartphones. Revenues advanced 5 percent to KRW 3.6 trillion and operation profit margins improved both quarter-over-quarter and year-over-year. Sales in North America jumped 66 percent from the year before, while sales in Korea grew 57 percent from the previous quarter with the introduction of the G Flex2 premium smartphone with Plastic-OLED display. The launch of the LG G4 in the second quarter is expected to strengthen the company's presence in the premium smartphone segment and further improve profitability.
Tags: smartphone
q1
shipments
mln
Category:Telecommunications