LG sells a record-breaking 16.8 million smartphones, doubles profit in the process
As Samsung struggles and Apple starts to encroach on the Android mainstay of giant screens, LG's smartphones are doing alright. In fact they're doing pretty darn well. Announcing a record number of smartphones sold and the best quarter in five years, LG's sales totaled 16.8 million devices and the company announced an operating profit of $450 million, roughly double from the same period last year. Shipments of the mobile arm leapt 39 percent, although the good news was tempered (if only a little), by lower operating profits in the same quarter from its Home Appliance and a $2.44 million operating loss from its Air Conditioning arm, although LG reckons weather conditions were the cause for lower sales in its native Korea. TV and Home Entertainment profits increased five percent, with demand for LCD TVs increasing across the world. LG expects its high-end 4K displays will be responsible for some more impressive financial results later this year -- and probably hopes you're already saving up for the holiday season.
