LG ships 14.5 million smartphones in Q2, boosting quarterly results

LG Electronics reported that a strong performance from its mobile unit, as well as its TV operation, led to a 165 per cent increase in Q2 group profit, as the company also saw record smartphone shipments.

LG Mobile Communications shipped 14.5 million smartphones during the three months, a 20 per cent year-on-year increase. More than one-third of all LG smartphones sold this year included LTE connectivity.

And this has translated to strength in the numbers. An operating profit of KRW85.9 billion US($83.4 million) for the mobile unit ends three consecutive quarters of loss.

Mobile Communications sales increased 16 per cent year-on-year to KRW3.62 trillion, and the company said this is its highest since the first quarter of 2010.

On a group level, LG reported a net profit of KRW411.8 billion, up 164.8 per cent year-on-year, on revenue of KRW15.37 trillion, up 0.9 per cent.