There are no active ads.


LG Boasts Best Earnings in 3 Years With 14.5M Smartphones Sold

by Jacob Kleinman | July 24, 2014July 24, 2014 8:30 am PST


LG just had its best quarter in years, thanks in part to its flagship G3 smartphone. The company says it sold 14.5 million handsets in its second fiscal quarter, pushing its operating profit up 26.5 percent to $589.04 million.

Total sales for the South Korea company hit $3.51 billion, marking the company’s best quarter since 2010 and following three straight reported losses. Smartphone sales provided the biggest boost for LG increasing by 16 percent from the previous year, and 39 percent in the U.S. compared to the previous quarter. TV sales were also up slightly by 3 percent from the last fiscal quarter three months ago.

LG says it expects smartphone sales to keep improving throughout the year. “We don’t expect (mobile) profit to turn negative like last year,” said Chief Financial Officer Jung Do-hyun. We’re not sure how the company hopes to boost sales next quarter once a new crop of devices launch to challenge the G3. It’s possible LG has another major release planned for the fall, though for now there’s little indication the company will release more than one flagship phone in 2014.

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...