LG triples its profits in Q2, selling 14.5 million smartphones thanks to the LG G3

Saqib Shah
July 24, 2014

LG is reporting a turnaround in profits following solid sales within its mobile division.

The company has shown that the reported smartphone slump isn’t necessarily affecting all manufacturers, despite Samsung recently being hit by a slow quarter.

Instead, LG shipped a record 14.5 million smartphones – up 20% year-on-year and 17% from the previous quarter.

Sales hit 3.62 trillion Korean Won ($3.51 billion), LG’s highest amount since the first quarter of 2010.

The Korean manufacturer also needed three straight quarters of losses by finally turning a profit of $83.4 million.

In regards to its mobile success, the company attributed its fortunes to its recently launched flagship; the LG G3 (which performed well in its native Korean market) and its mid-range L Series III handsets (which sold well globally).

Additionally, it claimed that phones with LTE capabilities have accounted for a third of shipments.

Outside of smartphones, the company’s home entertainment division also performed well – climbing 3% on the strength of its higher-priced Ultra HD 4K TV sets.

LG’s future plans include rolling out the LG G3 in further markets across the globe and launching the recently announced smaller version of its flagship; the LG G3 Beat.

About the Author

Saqib Shah

Tech/gaming journalist for What Mobile magazine and website. Interests include film, digital media and foreign affairs.

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