Printed from http://www.electronista.com

LG Q2 profit flat, smartphone sales hit record 12.1 million

updated 07:45 am EDT, Wed July 24, 2013

LG stays profitable on the back of strong smartphone sales

LG has reported its second quarter results for 2013 returning a net profit of $139 million, almost in line with its results for the same period last year. A bright note for the company was it set a record for smartphone sales, shipping 12.1 million units worldwide. The company has started to make its mark in the Android space dominated by archrival Samsung with phones like the Optimus G, G Pro and Nexus 4 all boosting the company's brand profile.

Its home entertainment division raked in $4.91 billion, which was an increase of 6.4 percent from the previous quarter. However, an extremely competitive market and razor thin profit margins meant that the group contributed little to the company's net profit for the quarter. In its statement, the company said that it is pushing into the nascent Ultra HD TV and OLED TV segments to help drive revenue in new markets.

Looking forward, LG is pinning its hopes on continued rapid growth in the mobile space with its Optimus L-series II and F-series devices helping to drive the company's profit while it struggles with tough conditions facing its other divisions.




By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News