While LG's earnings and profits are dwarfed Samsung, at least it has some bragging rights this quarter. Unlike its Korean arch-enemy, LG actually made money with its home entertainment and display division, which it chalked up to better sales in large TVs. In fact, the company claims it now sells more big-screen displays than any other, including Samsung, with a 27 percent share of the market worldwide. That helped contribute to 14 trillion won ($13 billion) in total sales, with an operating profit of 504 billion won ($471 million) -- triple what it managed the same time last year. (For a sense of scale, Samsung pulled in around $52 billion dollars and made $8 billion or so in profit.)
LG didn't do bad in mobile, either, as it shipped 12.3 million smartphones, almost 20 percent more than last year. (Again, for a little perspective, Samsung sold 112 million smartphones in the same period.) Another feather in its cap was a 79 percent increase in LTE smartphone sales over last year -- though that also reflects a significant uptick in 4G infrastructure around the world. Despite those bright spots, the company still lost a bit of money from its mobile division. However, it's set to launch the G3, the successor to its best-selling G2 model -- so it's looking for better things next quarter.
Filed under: Cellphones, Home Entertainment, LG
Source: LG
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