Korea Standard Time Stories October 29, 2014

LG’s twin-track smartphone strategy – offering both premium G-series models and cheaper L-series devices – appears to be working, with the company announcing Q3 smartphone sales up by 39% to 16.8M and operating profits more than doubled to 461B won ($440M). The results beat analyst expectations, and LG said that it was bullish about future prospects.

Building on its momentum and two consecutive profitable quarters, LG expects to strengthen its positioning in the smartphone market with its G Series and L Series models despite the landscape becoming more competitive

The G3 handset in particular has helped the company gain ground against its much larger Korean rival Samsung. Samsung is due to announce its own Q3 results tomorrow, but has already issued a profit warning on the basis of low average selling prices of its phones …  expand full story

Korea Standard Time Stories October 24, 2012

LG reports ‘solid’ Q3 earnings with $138.57M in net profit

LG is out with its Q3 earnings today, and it is reporting what it called “solid third-quarter performance” thanks to strong handset sales. The company took in $138.57M in net profit for the quarter, while recording 19.42 million operating profit for its mobile business:

LG Mobile Communications Company improved significantly in the 2012 third quarter, recording operating profit of KRW 22 billion (USD 19.42 million) due in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In addition, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased by 5 percent quarter-to-quarter to KRW 2.45 trillion (USD 2.16 billion) as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter. The company expects to further increase its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.

LG’s full press release below:

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