LG returns to profit as it announces record quarterly shipments


Mobile division ends three consecutive quarterly losses, primarily driven by strong sales of its G3 smartphone, with sales the highest since Q1 2010

LG’s mobile division returned to profit in Q2, with the company also posting record shipments and its highest sales figure in more than four years.

The Korean manufacturer posted an operating profit of KRW 85.9 billion (£49 million) to put an end to three consecutive quarterly losses.

Shipments reached a record high of 14.5 million smartphones in the three month period, up by a fifth year-on-year, with LTE products accounting for more than one-third of all LG smartphones sold this year.

As a result, sales increased 16 per cent from the same period last year to KRW 3.62 trillion (£2.06 billion), the highest since Q1 2010.

LG said much of this success was due to the initial popularity of its flagship G3 smartphone in the Korean market and strong sales of its L Series III smartphones.

It added it plans to continue to continue its global rollout of the G3 (pictured) and introduce more mass tier products in the second half, including variations of the G3, such as the recently announced G3 Beat, and additional L Series models.