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LG reports Q4 earnings, will focus on higher-end handsets and tablets this year

Posted: , by Daniel P.

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LG reports Q4 earnings, will focus on higher-end handsets and tablets this year
LG Electronics was quite in the doldrums last year, especially its mobile unit. Its profit margin in Q3 of 2010 shrank with the astounding 99%, largely due to the constant churn of unimpressive low-margin handsets.

The company has somewhat turned the tide towards the end of 2010, after the CEO stepped down, making $1.1 billion profit from $48.2 billion of revenue in Q4.

Thanks to some successful handset launches, like the LG Optimus One, which was backed up by a full-blown marketing and PR offensive, the LG Mobile Communications Company revenues saw a 10.9% percent increase, compared to Q3.

LG shipped 30.6 million handsets in total in last quarter, an 8% bump over Q3. In 2011, the company plans to get back in the profitability game with an onslaught of high-margin premium smartphones and "differentiated tablet PC products", while still spitting out cheap feature phones. We don't know about the last part, but we are all for phones like the LG Optimus 2X, the LG Optimus Black, and the LG Revolution. If by "differentiated tablet PC products" LG means 3D stereoscopic imaging on its G-Slate tablet or in phones, we are all for that as well.

source: LG

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