A better product mix and rising smartphone sales resulted in LG's (SEO:066570) mobile division tripling its profits quarter-on-quarter according to the firm's Q1 2012 financial report.
In all, the South Korean manufacturer's mobile business made an operating profit of KRW 39 billion (around $34.5 million) across the quarter.
It highlighted its increased smartphone revenue thanks to strong sales of its Optimus LTE and Optimus Vu in its home market.
Nonetheless, while profits were up from Q4 2011, overall revenues have declined 14 percent year-on-year to KRW 2.5 trillion (around $2.2 billion) owing to slowing feature phone sales.
The gap they leave behind will be filled as LG attempts to strengthen its smartphone line-up in Q2 2012, with the introduction of the firm's new L-Style series and quad-core smartphones.
Smart growth for smart TVs
Similar growth is expected in LG's home entertainment division.
Operating profit was KRW 217 billion (around $192 million) across the quarter up from the KRW 82 billion ($73.1 million) amassed during the same period in 2011.
Sales in the business declined by 6.8 percent to KRW 5.3 trillion ($4.7 billion) due, in LG's view, to the "sluggish European economy", though the firm still decribed its overall performance as "strong".
Further growth is expected across the summer thanks to sporting events, though current growth is currently being fuelled by high demand for smart TVs in the Korean market.
Of its overall business, LG claims to have "turned a corner", posting a a net profit of KRW 243 billion ($214.9 million), with quarterly revenues hitting KRW 12.2 trillion ($10.8 billion).
[source: LG]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
Top Stories
News
May 4th, 2024
PocketGamer.biz Podcast Week in Views E10 - Brawl Stars smashes 2023 revenue, Square Enix’s extraordinary losses, and Haaland signs for Clash of Clans
News
May 3rd, 2024
Week in Views - Apple back themselves bigstyle, Clash bags Haaland and dreams come true at King
Events
LA Games Conference 2024 | North America | May 6th |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Develop: Brighton 2024 | Europe | Jul 9th |