News by Andrew Kameka on Wednesday October 24, 2012.
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LG Mobile has struggled to keep pace with Apple and Samsung, the dominant smartphone manufacturers, but the Korean firm has shown signs of life by reporting its first profitable quarter in recent times. After multiple financial periods of sales not being good enough to outpace expenses, LG announced a KRW 22 billion (US $19.42 million) profit.
LG credits the modest profit to "healthy sales of LTE smartphones in Korea, Japan, and the United States." Recent months have seen the launch of the LG Optimus L-Series of phones and a more aggressive push to put its devices in more hands. The company shipped 14 million phones in the third quarter, a 9 percent increase from the previous quarter. It expects to continue the trend of rising shipments next quarter with the Optimus Vu: 2 in Korea and the Optimus G phone in North America.
Another boost could come from the unmentioned LG Nexus that Google is expected to announce on October 29. While Nexus devices are traditionally not huge commercial successes, the phone has the potential to increase LG's brand awareness among Android enthusiasts and slightly increase sales. LG's run of disappointing quarters has ended, and the fourth quarter of 2012 could be the beginning of a streak of positive financial periods.
Andrew is based in Miami, Florida.