LG Q2 earnings show lower profit than last year, record 12.1 million smartphone sales

LG Electronics has released its earnings report for the second quarter of 2013, and while its net profit of 156 billion won ($139 million) slipped from the same period last year, it's proudly trumpeting a record 12.1 million smartphones shipped. Operating profit for it mobile unit slipped from last quarter, but grew year over year to 54.37 million, and LG is apparently banking on phones like the Optimus L II, Optimus F and of course the upcoming G2 to keep things moving in the right direction. The mixed results continued when it came to TVs, as revenue and profit increased from the previous quarter, but dropped compared to last year, which the company blamed on lower demand and increased competition. As we've seen, it's focusing on the high end with new tech like Ultra HD and OLED for developed markets, although at the current prices it may take a while for those to have an effect.

Filed under: Cellphones, Displays, Home Entertainment, HD, Mobile, LG

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Source: LG, Q2 2013 Performance (PDF)

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