LG announces Q1 results, seems happy with them
LG has just announced its Q1 results and seems pretty happy with them, indicating earnings have actually exceeded the Q1 expectations, especially considering the global market meltdown. The Mobile Communications division reports an increase of 22.6% in handset sales as compared to the same period last year. However, handset shipments went down 7% for the same period and 12% down alongside of Q4 2008. According to the official announcement, sales of mid-tier models such as the Cookie and the KS360 were strong and along with the product launches of new models like the Lollipop contributed to an actual growth on the Korean market. As for its plans for the future, LG is optimistic, aiming over 10% shipment growth compared to Q1, even though it predicts a 10% contraction of the global market over the last year’s Q2. This goal will be achieved by focusing on top of the range phones such as the ARENA, the Viewty Smart, the GD900 Crystal and messaging devices like the Xenon and the Neon.