LG has had a record quarter, overall: sales were up 23.5% and profits up 3.8% year over year with all branches taken into account; the mobile communications division in particular saw a 6% quarterly and 37% annual rise in unit sales, totalling 31.6 million, but much of that was from lower-end handsets, like the Cookie, resulting in a dip in the handsets sector’s profit to 8.8% from 11% last quarter and 11.5% last year. Both Korean and North American sales took a bit of a hit, but new European, Central/South American, and Asian markets saw an added boost.
For the future, LG is looking forward to launching their first Android handset, the Etna, and three Windows Mobile phones. I’m curious to see how well their app store does in the long run…
For a closer look, check out their report, or tune in to their conference call tonight at 9 PM EST. To keep an eye on LG and other industry players, be sure to head over to our Finance section.