LG's latest earnings report shows just how tough the smartphone market is getting. On the one hand, LG Mobile shipped 8.1 million LTE smartphones, its best result ever. On the other hand, it sold fewer premium models in Korea and spent a lot of money marketing its flagship G4 in the US against models by Apple, Samsung, et al. (The company singled out Apple, saying that iPhone sales hurt its earnings this quarter.) The net result was a mobile operating profit of just 200 million won ($172,000) or 1.2 cents per phone. The good news is that the LG G4 has only been on sale in the US for two months, so it may have a stronger impact on LG's bottom line next quarter.