LG makes quarterly profit again due to good sales of budget smartphones

LG delivered a total of 14.5 million smartphones in the past quarter and never before has the manufacturer sold so many smartphones. The number is 20 percent higher than a year ago. Sales of the cheap L III models in particular contributed to the increase.

In addition to the good sales of the L III budget series, a good start to sales of the G3 domestically would be responsible for the increase in deliveries. Smartphones with LTE support now make up a third of LG’s total number of smartphones sold in the year. The good sales gave the mobile branch of the group a profit for the first time in three quarters: LG Mobile Communications Company wrote 72 million euros in black figures. The division’s turnover increased by 16 percent.

The LG Home Entertainment Company, which includes televisions, saw its profit increase by 65 percent with almost the same turnover. The division attributes the profit increase to a better mix of products and cost reductions. The branch expects revenue from LCD TV sales to continue to increase due to continued demand for UHDTVs.

The good quarterly results of the mobile branch and the TV division gave LG a profit increase of 26 percent to 437 million euros. Quarterly revenue rose by 7.7 percent to 11 billion euros.