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LG ships 10.3 million phones in Q1, the most since it entered the smartphone game

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LG ships 10.3 million phones in Q1, the most since it entered the smartphone game

Samsung began logging quarterly profits similar to the almighty Apple thanks in large part to its smartphone division and the flagship Galaxy handsets, and LG is now performing in the same way.

While the group's net profit was somewhat lower than last year's Q1, at $20.3 million, LG marked a significant increase in phone sales, which helped keep its financials afloat, unlike, say, the Plasma TV department. LG shipped 10.3 million handsets, the most since it entered the smartphone business, and a hefty 28.5% increase year-on-year.

"Healthy sales of LTE smartphones such as the Optimus G and Optimus G Pro along with 3G smartphones including the Optimus L Series and Nexus 4 contributed to the improved results," commented LG. For the second quarter it expects even better results than the $123 million profit it racked up from phones in Q1, due to the imminent launch of the 5.5" Optimus G Pro in the US, and the arrival of the Optimus F and L II series that cover the gamut of market niches. No word was given on the rumored innovative Optimus G2 with touch navigational buttons, but there's a conference call tomorrow, so hopefully more would be revealed.

+- Press Release

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