LG has announced its first quarter financial results today and they had some good news regarding the company’s smartphone business. According to a press release issued by the company, it shipped 10.3 million smartphones in the last quarter – highest for LG since it entered the smartphone race, thanks to the sales of Optimus G, G Pro and L-series.
The release adds that LG Mobile posted KRW 3.21 trillion (USD 2.96 billion) revenue in Q1, which increased 28.5 per cent year-on-year basis.
Excerpt from the press release:
LG Mobile Communications Company results improved significantly in the first quarter, recording revenues of KRW 3.21 trillion (USD 2.96 billion) on smartphone shipments of 10.3 million units, an increase in revenue of 28.5 percent from the same period last year.
Healthy sales of LTE smartphones such as the Optimus G and Optimus G Pro along with 3G smartphones including the Optimus L Series and Nexus 4 contributed to the improved results. Operating profit increased almost four-fold from the same period last year to KRW 133 billion (USD 122.69 million) thanks to stronger revenue and better cost structure.
The company expects to further increase shipments and sales in the second quarter with the worldwide rollout of Optimus L SeriesII targeting 3G markets with the 5.5-inch Full HD IPS Optimus G Pro and Optimus F Series in countries with 4G LTE networks.