LG has released its Q2 profits and things are looking up for the South Korean company. LG posted sales of $3.5 billion from the mobile division, a number that hasn’t been since 2010. As a whole, LG’s mobile arm posted an operating profit of $83.4 million. That operating profit is well up from the the past three consecutive quarters of losses. Money isn’t everything though, so how many phones were moved?
During Q2 2014, LG managed to sell over 14.5 million smartphones. That number is up 20 percent from Q2 2013, and also 17 percent up from Q1 2014. The boost in sales and profit is likely due to the success of the LG G3, which we praised in our review of it. Having a successful flagship combined with LG’s steady mid-range sector has allowed the company’s mobile division to bounce back. With such a success from the G3, LG will likely realize that its new approach with the the G3 is one that works.
While sales will likely slow throughout the year, the difference shouldn’t be too vast as LG continues to release the G3 in different markets around the world. Variants such as the G3 Beat should also contribute to steadier sales than last year’s models. A final note is that LTE-equipped phones accounted for over a third of the phones sold. Such a number reflects the growing demand for LTE in the world. If LG plans to score another success, it needs to continue to cater to that demand.