LG out with surprising Q1 resultsMay 1st, 2010 - 11:50 pm by Wajiha H.
LG has recently come out with the financial results for first quarter of 2010. We were of course expecting a much better report than the one we have seen but it was probably because of their excessive focus on developing products and sales channels in emerging markets. This is exactly why their global sales and profit are much lower than what was being expected. They have now resolved to shift their focus back on smartphones in Q2 2010.
In the first quarter their handset shipments rose to 27.1 million units as compared to the same quarter last year which essentially means a boost of around 20%. But even when the shipments increased exponentially, profits fell on year on year basis (19.7%) as LG’s main focus was on the upcoming markets.
Now LG have a lot of new things up their sleeve for the coming next quarter, some of which are a 5% growth in shipments as compared to the second of 2009 and a double digit growth when compared to the same quarter. Also they are planning on bettering their revenues and the overall profitability with a due emphasis on smartphones. Something they have been doing since the last year or so.
The best LG sets in the second quarter have been the LG GT540 Optimus, the LG VS740 (another Android, the LG LU2300 most likely) and the LG Cookie2.
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