LG reports record sales of 12.1 million smartphones in Q2

LG reports record sales of 12.1 million smartphones in Q2
Korean manufacturer LG said it had record smartphone sales of 12.1 million units in the second quarter. LG Mobile reported revenue rose 34.5% in the quarter to KRW 3.12 trillion (USD 2.78 billion). Operating profit came in at KRW 61 billion (USD 54.37 million) which was up from last year, but down sequentially. Operating profit declined from 2012's second quarter thanks to lower average selling prices that were due to tougher competition. In addition, demand in the Korean market was weaker and marketing costs were higher.

LG is expected to be extremely competitive in upcoming quarters thanks to the LG Optimus G Pro and the LG G2. With the latter model expected to be introduced on August 7th, LG will have plenty of strength in the high-end of the Android market. Other models like the LG L-Series II and the LG F-Series keep LG's sales growth humming in the low to mid-range niche of the market.

source: LG via Engadget


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