LG Electronics has announced their earnings for Q3 2014, in which it has reported net profit of 203 billion Won (US$ 194 million) with operating profits of 461.3 billion Won (US$ 449.61 million). Both the operating profits and net profits were down compared to last quarter, but the these have doubled compared to the quarter a year earlier.
Mobile communications sector earned operating income of 167.4 billion Won (USD 163.16 million) and Sales of 4.25 trillion Won (USD 4.14 billion), a 39% increase YoY and 17% increase QoQ. This is the highest in the company’s history since the third quarter of 2009, says LG.
LG shipped 16.8 million units of mobile phones in Q3 2014, 39% more sales YoY and 16% QoQ. Sales increased due to the increased G3 sales and stronger L-Series sales in North America by 39% QoQ, Improved LTE sales by 114% YoY and by 25% QoQ due to the global launch of G3. Total shipments in domestic market decreased by 22% QoQ due to weaker demand.
LG expects smartphone market to grow continuously with seasonality, especially for the LTE market. It plans to maximize sales of G3 and strengthen, G3 variants and L-series III.