LG’s Mobile Sector Is In The Black Again.


In the mobile world two brand names command a majority of the attention: Apple and Samsung. Everyone else is at best, grasping for straws any way they can and losing money in the process.

LG was one such manufacturer whom just last quarter (Q2) reported a loss of $49 million USD (57 billion won). This time around, however, things are a bit more rosy with the Korean firm posting a healthy net profit of $139 million USD (157 billion won) - far better than last year when the company lost $237 million USD (262 billion won).

The newfound lease on life can be attributed specifically to LG’s mobile unit which itself posted a profit of $20 million USD (22 billion won); last quarter they posted a $49 million USD (57 billion won) loss.

The numbers above may bore you. But one things is for certain. LG is finally making some headway as the above numbers are the result of Q3 sales totaling 14 million (9% more than last year). According to Reuters, of those 14 million handsets shipped, smartphones accounted for roughly half of them.

While we love both Apple and Samsung’s efforts, it’s no secret that the tech world would love to see a close #3 (and #4) competitor. LG could be that if they keep it up.

Source: Reuters