MANILA, August 2014—Global technology innovator LG Electronics (LG) announced a 165 percent increase to KRW 412 billion (USD 399.8 million) in second-quarter net profit compared to the same period last year, reflecting strong earnings from both its mobile and TV operations.
LG’s second-quarter 2014 operating profit reached KRW 606 billion (USD 588.5 million), an increase of 26.5 percent year-over-year. Unaudited consolidated revenues of KRW 15.37 trillion (USD 14.93 billion) increased 7.7 percent from the previous quarter.
Mobile business turnaround
Contributing to this remarkable performance is LG Mobile’s record-high shipment of 14.5 million smartphones in the second quarter, a 20 percent increase year-over-year with LTE products accounting for more than one-third of all LG smartphones sold this year. As a result, sales increased 16 percent from the same period last year to KRW 3.62 trillion (USD 3.51 billion), the highest since the first quarter of 2010. The mobile division’s operating profit of KRW 85.9 billion (USD 83.4 million) in this quarter put an end to three consecutive quarters of losses.
With all the industry-leading features and game-changing innovations it encompasses, LG Mobile’s newest flagship product, the LG G3, was globally launched just last May communicating the message “Simple is the New Smart” and has been instrumental to the brand’s business turnaround. In the Philippines, the LG G3 was launched in July and has since then enjoyed a strong uptake.
LG’s latest flagship smartphone takes pride in three core technologies— the breathtaking Quad HD display with 538ppi pixel density, four times than HD displays, the high-quality camera with Optical Image Stabilization Plus (OIS+) and a smartphone’s first, the Laser Auto Focus, and the sleek Floating Arc design with ultra thin bezels and metallic finish—all providing a seamless yet “simple” user experience.
For more information about the phenomenal “simple yet smart” LG G3, visit www.lg.com/ph, www.lgblog.com.ph, or www.LGnewsroom.com; like LG Mobile’s official Facebook page LG Mobile Philippines; or follow @LGPhilippines on Twitter and Instagram.