LG has reported a 24.8 per cent increase in handset sales from the same quarter last year, with operating profit reaching £197 million.
Global handset shipments were up 37 per cent year-on-year, and six per cent on the previous quarter to 31.6 million units, despite a slight decline in North American and Korean sales volumes. The company attributed the North American decline to a rising demand for smartphones and budget prepay phones.
It described sales in European markets and emerging markets as “robust”, driven by messaging devices, especially the Cookie (pictured).
Handset sales came in at £2.25 billion, up 24.8 per cent from the same period last year.
The company said in a statement that price erosion and an increased proportion of low-end handset sales had resulted in a quarter-on-quarter decline in profitability.
The company has forecasted steady growth for next quarter, and is confident about the launch of its Android handset and three Windows Mobile devices. It will also launch a ‘compact touchscreen’ handset, the LG Pop.
Additionally, LG is to boost its marketing investment in emerging markets, as well as grow its distribution channels and focus on risk management.