LG handset division records loss of £33m for second quarter

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Sales fall by 6.8 percent quarter-on-quarter and 28.6 per cent year-on-year as firm ships 13.1 million units

LG’s handset division has made an operating loss of £33m (59bn Korean Won) in the firm’s second quarter, with mobile section of its business the only one to record a loss for the three months to the end of June.

Sales fell by 6.8 per cent compared to its first quater and by 28.6 per cent compared to the same period in 2011. Its worldwide handset shipments fell four per cent during the quarter, to 13.1 million units.

The revenue decline was blamed on falling feature phone sales, with LG confirming smartphone shipments were up for the period, but did not specify by how much.

In its financial predictions for the next quarter the firm announced: “Overall smartphone demand is expected to increase, especially for LTE phones, and competition to intensify with competitors launching premium flagship models.

“We plan to continuously launch new LTE models in the developed markets and increase revenue with marketing efforts and efficient supply chain management.”

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