News by Brian James Kirk on Wednesday July 22, 2009.
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LG Electronics has reported its second quarter results, and as we expected, the company posted a record-high quarterly net profit.
LG's mobile unit reported 5 trillion KRW (US$3.9 billion) in sales, a 25 percent increase since the same quarter last year. Handset shipments increased 7.8 percent compared with the second quarter of last year, coming in at 29.8 million phones for Q2 2009.
LG says that its mid-range models, like the LG Cookie, KS360, enV3, and enV Touch, were in strong demand. Though LG expects overall global demand for phones to decrease 6 percent this year, it expects its own sales to grow.
For the company on a whole, which sells a variety of electronic goods, quarterly sales grew 13.8 percent to 14.5 trillion KRW (US$11.2 billion) year-over-year. Net profit grew 62 percent to 1.15 trillion KRW (US$917 million).
Brian James Kirk
Brian is a former news editor on MobileBurn.com that freelances in Philadelphia. You can follow him on Twitter as @BrianJamesKirk.