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It’s pretty much a given that everyone’s hurting from the recession, even the kings of the mobile castle, but LG has managed to make it through the first quarter of 2009 not quite as badly as investors were expecting. The world’s number 3 handset manufacturer took a 25% hit in operating profit to 456 billion won, which is definitely better than the 307.4 billion won that was initially ballparked. Handset sales in particular were up 22.6% year over year, which is pretty danged good. Analysts seem pretty happy overall:
“I see a better picture for the second quarter as mobile phones are set to grab more share, TV sales are in good shape on lower prices and as home appliances enter a busy season … We’re seeing some signs of improvement in consumer sentiment, which makes me a little bit more positive on the demand-side boost.” – Lee Jin Woo, KTB Asset Management Co.
With the Viewty II and Arena on the way, Q2 and the rest of the year looks solid LG. For a closer look at the numbers, hit up LG, and to keep tabs on stocks from all the big names in mobile tech, be sure to check out our Finance section.
[via Reuters]
About The Author
Simon Sage
Simon Sage’s education largely surrounded writing, technology and online community, leading him to begin his blogging career at www.BlackBerryCool.com and to quickly discover a vibrant and active community surrounding BlackBerry and mobile technology. In exploring RIM’s platform, he has learned what enterprises are looking for in mobility as well as what makes the innocuous BlackBerry so appealing to them. Recently Simon’s been covering RIM’s gradual move into an already-crowded consumer market, and the impact of burgeoning challengers, such as the iPhone, as well as long-time leaders, like Nokia, on BlackBerry’s advancement. With plenty of content under his belt, Simon will be branching off a bit to see what other smartphone manufacturers are working on while still using BlackBerry as a barometer. At IntoMobile, you can count on his posts being even-handed, well-informed and thought-out.
