Mobile phone manufacturer LG Electronics has just reported its results for the third quarter of this year, which came to an end on the 30th of September.
The company reported a very healthy 25% increase in the sale of mobile phone handsets, up to KRW 4.38 trillion, the equivalent of £2.28 billion, for the third quarter of this year when compared to the third quarter of 2008.
While their mobile phone sales were down by 10% from this year’s second quarter, the company also reported a 21% jump in sales from mobile communications for the third quarter of this year, to KRW 4.65 trillion, or the equivalent of £2.4 billion.
Mobile phone shipments grew by a very impressive 37% when compared to last year, and 6% when compared to the second quarter, up to 31.6 million units. LG Electronics says that it saw good growth in emerging and European markets, largely due to devices such as the Cookie, and phones with a focus on messaging.
However, the operating margin did fall for the division to 8.4%, down from 10.1% at this time last year, and 10.6% in the second quarter – this is because of price erosion paired with the higher number of low end and entry level phones now in the mix.
The company’s forecast for upcoming growth in the fourth quarter does speculate a rise in shipments, which looks promising.
LG Electronics now has plans to expand their investment in smartphones, as well as increase both their marketing and their distribution in emerging mobile markets – all in all, the company does seem to be on the up and up.
Tags: LG