LG posted a decent second quarter with a net profit of $99.6 million but the company’s mobile division continues to lose money. There are many signs of hope for the its mobile division, though.
In its press release, the company said:
LG Mobile Communications Company reported an 11.6 percent increase in sales in the second quarter compared to the previous quarter, to KRW 3.25 trillion (USD 3.0 billion). While recording a loss of KRW 54 billion (USD 49.8 million), operating income showed strong improvement, reducing losses from the previous quarter by almost half. The company continues to strengthen its global competitiveness by launching a mix of competitive smartphones and its continued investment in R&D.
The increase in sales is a good sign, as the company’s mobile division has been bleeding cash for the last few quarters. After years of shipping out mediocre devices, LG has really placed an emphasis on producing some high-end smartphones and it has been quite impressive so far.
The Optimus 2X or T-Mobile G2x (in the United States) is an awesome phone – it’s sleek, powerful and is still one of the best devices on the market even though it’s been out for a few months. The Optimus 3D was one of the first glasses-free 3D phones to hit the market and when it lands in the United States as the AT&T Thrill 3D, it should sell a lot of units because of its $99 price tag.
We’re still waiting for the next crop of LG smartphones, so let’s see if it can keep up its strong streak and if this will be reflected in its next quarter’s earnings.
[Via LG, photo credit: LGEPR]