Today’s Google event was chock full of new products and services many of which were leaked ahead of the event. While most of the new items had been covered in recent days (casemakers were ready), Stephen, Cam, Jordan and Chance did an excellent job rounding up the unexpected too. Some things that stood out:
The major Android manufacturers seem to at last be getting serious about security. Following the recent discovery of the Stagefright vulnerability, Google announced that it would commit to issuing monthly security updates to Nexus devices for at least three years. Samsung yesterday said that it too would do the same, though without stating how long it would continue to support older devices. LG has now joined in, reports Wired.
LG will be providing security updates on a monthly basis which carriers will then be able to make available to customers immediately.
Other manufacturers have also responded quickly to Stagefright, with HTC, Sony and Android One among the groups to be issuing patches …
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[tweet https://twitter.com/ASUS/status/501668895074181120/]
ASUS has officially confirmed that it will be unveiling its Android Wear smartwatch at the IFA next month, with a teaser tweet showing a smartwatch face displaying the quote “Time has been transformed and we have changed” …
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Samsung and Apple will largely own the smartwatch market between them, predicts Jackdaw Research chief analyst Jan Dawson in a report being issued later today and seen by Re/code.
Dawson said that new players should “stay out of the market,” and existing players should scale back their plans.
“We do not recommend that existing vendors should maintain current levels of investment when market growth and the overall revenue opportunity remain poor,” Dawson said. “It is unlikely that more than one or two small vendors will be able to make a sustainable business out of smartwatches in the face of competition from Samsung and […] Apple” …
It would be surprising if Google didn’t unveil a new Nexus device before the end of the year. Currently, the Nexus 10 is still out of stock and Google’s Nexus 5 is beginning to show its age. If anything, we hope to see a Nexus 6 in the near future, but Google might be working on a frugal Nexus smartphone as well.
According to Chinese site MTKSJ.com (via GforGames), Google may be working with chip maker MediaTek on a budget Nexus device that could be priced as low as $100. This could really shake things up in the mobile market and would be a direct competitor to ex-Google company Motorola and its Moto G smartphone. The Nexus line is already known for its low-priced devices with high-end specifications, but a $100 Nexus device could definitely broaden Google’s mobile market share.
During a panel discuss during Mobile World Congress in Barcelona today, Motorola senior vice president Rick Osterloh revealed the hardware company is working on a smartwatch with plans to ship later this year, CNET reports.
Osterloh didn’t reveal much more in terms of specifics about what Motorola’s offering will present, but did hint that its smartwatch would consider fashion in its presentation:
“Right now, there are non wearable products you actually want to wear, and it’s because they’re all extremely ugly,” Osterloh said at an event at Mobile World Congress on Tuesday.
Google, which recently announced a deal to unpack Motorola onto Lenovo in a multibillion dollar deal, is also reportedly working on its own smartwatch offering through a partnership with LG.
While Motorola offered no specifics on when to expect its smartwatch aside from later this year according to CNET, Google is expected to reveal its smartwatch next month before it’s launch in June at Google I/O.
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:
LG ANNOUNCES THIRD-QUARTER 2012 FINANCIAL RESULTS
Company Reports Third Consecutive Quarter of Solid Net Income
SEOUL, Oct. 24, 2012 –- LG Electronics (LG) today reported a solid third-quarter performance with the third consecutive quarter of positive net income and all four companies recording strong operating profits. Better-than-expected performance in the mobile and home appliance businesses helped offset a slight decline in overall year-over-year sales for the third quarter.
Third-quarter net profit of KRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) showed significant improvements from the loss in the same period last year. Third-quarter revenues fell 4 percent year-over-year to KRW 12.38 trillion (USD 10.93 billion) due to the continuing decline of feature phone sales and overall weak demand.
LG Home Entertainment Company third-quarter 2012 sales of KRW 5.49 trillion (USD 4.84 billion) were led by an increase in LCD TV sales, offsetting sluggish global demand. Percentage sales attributed to 3D TVs and LED TVs increased quarter-on-quarter with unit sales growing in most regions. IT products led by IPS monitors and monitor TVs also increased from the previous quarter. Operating profit of KRW 89 billion (USD 78.55 million) was unchanged from third quarter 2011. In the fourth quarter, the company plans to increase sales of LCD TVs by expanding marketing of CINEMA 3D Smart TVs and enhancing its premium brand positioning with the new Ultra HD TV.
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 Home Appliance Company reported improved sales and operating profit from the same quarter last year. Revenue increased 6.4 percent year-over-year to KRW 2.87 trillion (USD 2.53 billion) and operating profit of KRW 129 billion (USD 113.86 million) reflected strong sales in the United States as well as emerging markets. With global appliance demand stagnant, the fourth quarter will be challenging but additional marketing promotions and new model launches should help offset the situation.
LG Air Conditioning and Energy Solution Company posted a 3 percent year-over-year sales decline to KRW 974 billion (USD 859.66 million) while profitability increased slightly from the same period the previous year. The company expects worldwide demand to remain sluggish but the trend toward more energy efficient products should help drive demand in its commercial air conditioning systems business.
2012 3Q Exchange Rates Explained
LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2012. Amounts in Korean Won (KRW) are translated into U.S. Dollars (USD) at the average rate of the three-month period in each corresponding quarter: KRW 1,133 per USD (2012 3Q) and KRW 1,082 per USD (2011 3Q).
Earnings Conference and Conference Call
LG Electronics will hold a Korean language earnings news conference on October 24, 2012 at 16:00 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea). An English language conference call will follow on October 25, 2012 at 10:00 Korea Standard Time (01:00 GMT/UTC). Participants are instructed to call +82 31 810 3069 and enter the passcode 9084#.
The corresponding presentation file will be available for download at the LG Electronics website
(www.lg.com/global/ir/reports/earning-release.jsp) at 13:30 on October 24, 2012.
Please visit http://pin.teletogether.com/eng/ and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 31 931 3100 and enter the passcode 142670# when prompted.
