LG sells 10.1 million smartphones in Q1, best ever for the company
Riding high on Optimus G and L series sales and Nexus 4 success, LG has announced that they have sold record 10.1 million smartphones in Q1 2013 with an increase in revenue of 28.5% from the same period last year. This also gave LG Moblie Communications four fold increase in operating profit With upgrades to L series (L II), we expect LG to have higher sales volume in Q2. The sales can increase many fold in coming quarters if LG can push global rollout of highly acclaimed LG Optimus G Pro and are able to match the success of Optimus G with a successor.
LG Mobile Communications Company results improved significantly in the first quarter, recording revenues of KRW 3.21 trillion (USD 2.96 billion) on smartphone shipments of 10.3 million units, an increase in revenue of 28.5 percent from the same period last 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. Operating profit increased almost four-fold from the same period last year to KRW 133 billion (USD 122.69 million) thanks to stronger revenue and better cost structure. The company expects to further increase shipments and sales in the second quarter with the worldwide rollout of Optimus L SeriesII targeting 3G markets with the 5.5-inch Full HD IPS Optimus G Pro and Optimus F Series in countries with 4G LTE networks.
