LG shipped 12 million smartphones in Q3, sales are up 24% year-on-year

LG shipped 12 million smartphones in Q3, sales are up 24% year-on-year
LG has released a short press release today, announcing their unaudited Q3 2013 financial results. Despite the weakening TV market and unfavorable currency exchange rates, consolidated revenue is up 12%, to $12.51 billion compared to the same period last year. LG saw a healthy increase in operating profit as well – 27% quarter-on-quarter – up to $196.34 million.

Best of all, it was LG's mobile division that led the charge. Sales of third-quarter mobile devices is up 24% ($2.75 billion), compared to last year's Q3, which translates into 12 million smartphones shipped in the span of the last three months. LG notes that it is planning to focus on increasing sales of its excellent LG G2 and other premium products in its line-up during the peak of the holiday season, along with its wide portfolio of mid-tier 3G devices, such as the L II and F series devices. 

Unfortunately, while LG notes that increased competition and higher marketing investments have affected the profit it made out of its mobile division, it hasn't shared any exact numbers, though these will be probably announced during its earnings call later today.

The rest of LG Corp's daughter companies are all reporting a relatively flat third-quarter performance.

source: LG

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11 Comments

1. ardavan

Posts: 6; Member since: Jul 03, 2013

"compared to last year's Q3, which translates into 12 million smartphones shipped in the span of the last four months." @Chris P. Last time I checked, a quarter was three (3) months.

5. Chris.P

Posts: 567; Member since: Jun 27, 2013

Well, that's just embarrassing. ;(

7. ardavan

Posts: 6; Member since: Jul 03, 2013

That happens:) BTW, LG Mobile Communication division's loss was -2.6% (down from 2.0% profit in Q2 and 4.1% profit in Q1). So, even 12 million smartphones wasn't enough to secure profit.

2. saenaedewe

Posts: 72; Member since: May 01, 2013

Nice... LG G2 is one sexy beast, I owned it and I really like it!

3. livyatan

Posts: 867; Member since: Jun 19, 2013

So basically only HTC is experiencing decline, out of all the major Android vendors. Samsung is a Juggernaut, LG plans to sell 10 million of G2 units alone, Sony is expecting 15 million units sales per quarter, and Huawei, ZTE, Xiaomi, Micromax are looking to meet the 20 and 10 million targets per quarter, respectively. I wonder why HTC is falling so hard, given their lineup.

4. pyradark

Posts: 895; Member since: Jun 10, 2012

-overprice that doenst offer any eye catching features. -lack of affordable phone. Even Sony needs to sell Midranger Xperia M & C to help them sell more units.

8. Finalflash

Posts: 4062; Member since: Jul 23, 2013

No, the phone itself is fine and it is actually selling well. Last few estimates suggested upwards of 10 million at least. But the problem is their manufacturing is more expensive (I believe they do it themselves) and their licensing is killing them. The deals they ran with Apple and MS are probably eating too much into their profits. Unlike the big ones like LG, Sony, and Samsung which have their own patent muscles, HTC weren't able to run favorable deals most likely. That plus the management is mentally retarded. They put the phone as exclusives on carriers that advertise everything else first and then they do limited releases in several areas way too late (Canada got the phone in August I think, at least when I was there, it only came out around that time).

6. Saafa

Posts: 37; Member since: Mar 20, 2013

I dont care LG! release our updates!

9. DONUT

Posts: 436; Member since: Jun 27, 2013

congrats LG :)

10. julaiele

Posts: 12; Member since: Aug 10, 2013

I bought my LG G2 a couple of weeks ago & it's true to the reviews. With its specifications, performance, innovations & fair price tag, this is the ultimate smartphone in the universe to date. No one will ever go wrong with this beauty & beast..!

11. lifeyourlive

Posts: 126; Member since: Aug 23, 2013

Release the damn nexus on google play in all of the european countries and sales will go skyrocket

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