‘Tis the season for quarterly results. Next up, LG who has reported that their whole company has logged a 165% increase in net profit when compared to the same period last yea, raking in 412 billion won or $399.8 million USD. This in large part was thanks to a revival of its mobile business, spearheaded by the intensely popular LG G3 and led to a 16% sales boost over the same period last year, equating to a profit of 85.9 billion won, or $83.4 million USD. Probably the best news for LG is that the profit this quarter ended the streak of three consecutive quarters of losses.
LG was able to ship 14.5 million devices in the quarter, with LTE products making up an even larger part of their sales than last year. When you think about exactly which devices LG launched to achieve this, it’s pretty impressive stuff with the LG G3 and L-series doing most of the heavy lifting. It’s always good to see a company reaping the benefits of creating genuinely brilliant devices like the LG G3 which still stands head and shoulders above the rest of the Android smartphone market, with its market leading Snapdragon 805 processor and fancy volcano-journeying camera. We can only hope that LG continues its march of improvement, as it gradually digs into Samsung’s sizeable market share lead.
What do you think about LG’s quarterly results? Do you think they deserve it? Let us know your opinion in the comments.
Source: LG Newsroom
