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LG is really hitting their stride when it comes to knowing how to deliver desirable smartphones, and their latest quarterly results prove it. The company reported revenue and profit of $12.72 billion and $34.91 million, respectively. The profit is up “significantly” compared to the last quarter, all the while revenue was virtually the same as it was in the same period a year ago.
LG has many businesses that contributed to the result, though they noted their smartphone business has been doing quite well. The company shipped a total of 15.4 million smartphones last quarter, a 26% increase from the same period a year ago. It also accounted for $3.27 billion of the overall revenue, which is a 5% year-on-year increase.
The result was helped by particularly strong performances in North America and their hometown of South Korea. The former region’s smartphone sales jumped a whopping 66% year-on-year, while quarter-over-quarter performance in South Korea jumped 57%.
Much of the company’s success in the mobile sector last quarter can be credited to the launch of the intriguing LG G Flex 2, our review of which you can find right here. Expect the forthcoming LG G4 (see our hands-on) to take the baton and do even more. It might not be enough to topple the current smartphone king known as Samsung, after a string of bad years earler in the decade we can’t imagine LG is disappointed about recent results.
shipped***
Q2 will be interesting with the G4
Guess my Tribute purchase did some good, then. You’re welcome, LG.
One has to wonder how much LG being the manufacturer for the Nexus 4 & 5 has contributed to their turn around in the mobile space, particularly in mind share and the overall perception of their mobile department. It seems that it may have given them the confidence boost they need.
I’d think about buying one of their phones if they’d stop putting the buttons for their phone on that terrible place on the back.