Korean manufacturer shipped 15.4 million smartphones during three months ending March 31 2015
LG Mobile Communications shipped 15.4 million smartphones during the three months ending March 31, a 26 per cent increase on the same period last year.
Despite the stronger sales performance, sales revenue grew by just five per cent year-on-year to £2.1 billion. LG blamed this on competition in the sector putting pressure on pricing.
Operating margin was vastly improved year-on-year from -0.2 per cent in Q1 2014 to two percent this year.
In its outlook for 2015, the company says it expects competition to intensify but that it planned to increase its presence in both the high-end and “mass market sector”. LG launched its 2015 flagship, the G4, at a launch event in London yesterday (April 28).
A statement said: “(We) Plan to increase revenue by strengthening our presence in the premium market with the launch of the G4 along with launching new models in the mass segment, and with this, improve profitability with better cost competitiveness.”
The Mobile Communications division’s results were released alongside Group figures which revealed that LG make a quarterly net profit of £22.7 million. This was on flat year-on-year revenues of £8.3 billion.