LG Mobile reports growth in Q3 sales
Share:
LG reported their financial results for the last quarter earlier today and they seem record breaking once again. Unlike Nokia, LG posted significant handset sales growth both on sequential and annual basis. The company announced total revenues grew by 21.9% to $3.75 bln. The sales generated by their cell phone division amounted to $3.53 bln. which translates to growth of 24.8% on year to year basis. Wow!
The manufacturer sold 31.6 mln. handsets in Q3, which was 6% increase on sequential basis and the stunning 37% surge as compared to Q3 2008. The company attributed the record growth to stronger sales across Europe and on the developing markets that managed to offset the decreasing volumes in the US and Korea. Operating profit amounted to $309 mln., while net profit decreased compared to Q2 2009. According to LG, two major factors had negative impact on the profitability - the increased demand for low-end cell phones and price erosion of mainstream and top-of-the-range devices.
The manufacturer sold 31.6 mln. handsets in Q3, which was 6% increase on sequential basis and the stunning 37% surge as compared to Q3 2008. The company attributed the record growth to stronger sales across Europe and on the developing markets that managed to offset the decreasing volumes in the US and Korea. Operating profit amounted to $309 mln., while net profit decreased compared to Q2 2009. According to LG, two major factors had negative impact on the profitability - the increased demand for low-end cell phones and price erosion of mainstream and top-of-the-range devices.
Share:
5 Comments
1. hkphooey posted on 20 Oct 2010, 01:44 0 0
Hmmm Apple's $1.67b vs LG's $3.53b or Apple's 7.4 million handsets vs LG's 31.6 Million or Apple's 7% increase vs LG's 37% HOVA (and other iPhone fanboys)...don't you feel stupid?
2. theman10 posted on 22 Oct 2009, 09:48 0 0
I don't have an iphone, but they freakin' make one phone. It's not a fair comparison. Maybe if you'd stayed in school you would understand. And fyi, you are the one that should feel stupid.
8. MetroPCSGorilla posted on 24 Oct 2009, 15:53 0 0
Well...that's not LG's fault that Apple decided to only make one phone.
4. theman10 posted on 22 Oct 2009, 12:39 0 0
Um, the Hero, it is by far the coolest Android phone in the forseeable future.
5. musthavdroid posted on 22 Oct 2009, 15:16 0 0
(((((some advice plz))))) . should i wait for the droid or upgrade to the imagio now???
