Telecom Lead India: LG Electronics has shipped 10.3 million smartphones in the first quarter of 2013.
LG Mobile Communications posted first quarter revenues of KRW 3.21 trillion ($2.96 billion), up 28.5 percent from the same period last year.
Growth drivers include LTE smartphones such as the Optimus G and Optimus G Pro along with 3G smartphones including the Optimus L Series and Nexus 4.
Operating profit of the mobile business increased almost four-fold from the same period last year to KRW 133 billion ($122.69 million) thanks to stronger revenue and better cost structure.
The company on Wednesday said it expects to further increase shipments and sales in the second quarter with the worldwide rollout of Optimus L SeriesII targeting 3G markets with the 5.5-inch Full HD IPS Optimus G Pro and Optimus F Series in countries with 4G LTE networks.
LG’s overall revenues rose 6.8 percent to KRW 14.10 trillion ($13.01 billion) mainly due to the improved performance of the mobile business.
Better-than-expected performance in LG’s mobile operations offset weaker results in the home entertainment business.
LG’s first-quarter net profit declined to KRW 22 billion ($20.30 million) due to competition. Its operating profit was KRW 350 billion ($322.88 million).
A 29 percent decrease in operating profit year-over-year to KRW 102 billion (USD 94.10 million) reflected increased investments in R&D and marketing.
LG will focus on strengthening its competitiveness and market leadership in a weak worldwide market with differentiated products and a strengthened product line-up.
