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LG reports 37 percent increase in Mobile device shipments

by Nick Marshall
LG reports 37 percent increase in Mobile device shipments

It looks like Apple isn’t the only company posting record numbers in 2009.  LG just reported their Q3 2009 financials and they had record revenues and operating profits despite the global recession.  Their Mobile Communications Company reported KRW 4.65 trillion (USD 3.75 billion) in sales, 21.9 percent higher year-over-year and an operating profit of KRW 390 billion (USD 314 million) with a margin of 8.4 percent. Handset sales accounted for KRW 4.38 trillion (USD 3.53 billion), up 24.8 percent from the same quarter in 2008, and operating profit reached KRW 384 billion (USD 309 million), resulting in a margin of 8.8 percent. Shipments of handsets saw an increase of 37 percent year-over-year and 6 percent quarter-over-quarter to 31.6 million units due to robust growth in emerging and European markets, thanks to products such as Cookie and messaging phones, despite a slight decline in unit sales in North America and Korea. Price erosion, along with increased sales of low-end handsets, resulted in lower profitability compared to the second quarter.

[Via LG]

posted on Oct 21, 2009 in lg Tags: , ,

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