LG sold more smartphones than ever in its most recent quarter, which had the handy side-effect of doubling the company’s profits.
The company reported an operating profit of 461.3 billion South Korean won (£272.8 million) for its third quarter. That represents more than double that of the same period last year.
A significant factor in these stellar figures is the fact that LG sold more smartphones in this latest quarter than it has ever managed. Sales of 16.8 million units saw LG’s mobile business revenues jump by 39 percent year-on-year, and marked the highest number in the company’s history.
The LG G3 launched to the wider market towards the end of June. LG’s current flagship has received rave reviews for its innovative laser autofocus camera, as well as for being one of the first mainstream phones to sport a QHD display.
It’s a good job LG’s mobile business is in such fine fettle, as its other departments haven’t performed nearly so well. LG Home Appliance Company and LG Air Conditioning & Energy Solution Company both posted lower operating profits than this time last year.
The LG Home Entertainment Company contributed its bit, however, with operating profit increasing five percent over last year, and TV sales increasing in several key regions.
Read More: LG G3 vs Samsung Galaxy S5
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Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
