Editor in Chief
- Dec 30, 2010
- Reaction score
- Austin, TX
After a slew of bad quarters LG has finally crawled their way back into the black again. In an increasing competitive smartphone market, for a while only Samsung was seeing any profit with Android. Other companies, like Sony and HTC have struggled to remain competitive, but it's nice to see LG actually start to see the fruits of their labor pay off. Here's a quote with some of the details,
After many bad quarters, LG’s mobile division is profitable once again. Granted, its operating profit of 22 billion won (approximately $19.42 million) is quite small, but it’s a start. Interestingly, LG managed to become profitable two quarters before Samsung’s analysts predicted it would. So the turnaround at LG’s mobile arm seems to happen faster than anyone expected.
The company has sold 14 million mobile devices during this quarter, 9% more than in Q2. Unfortunately there’s no breakdown between smartphones and featurephones. Revenues were up compared to the previous quarter by 5%, to 2.45 trillion won ($2.16 billion).
Some additional info came along with these earnings reports. Apparently, LG is pretty much done with any Windows Phone devices, at least for the foreseeable future. They supposedly have no plans to introduce a WP8 device. Additionally, this new profitability has inspired their confidence. They have set some lofty goals and predict they will sell 10 Million smartphones by Q2 of 2013. Of course, it's possible they might just do that. The new LG Optimus G has been well received by the press and consumers, and the LG Nexus 4's launch date is looming. What do you guys think? Can these new phones get 10 Million folks to choose LG?