LG’s quarterly earnings for Q1 2014 have been compiled and put together for folks that like numbers to go through and ummm and ahhh over, but what we’re interested in is how the company is doing when it comes to mobile. LG is obviously a very large company that does everything from home electronics to air conditioning, so the relevant figures for us are in the mobile results. Which, as it turns out have improved from the same period last year, but there’s still room for more improvement, of course. LG has already forecast stronger results for Q2 thanks to the upcoming release of the G3, but Q1 2014 was a pretty decent period for the company overall.
During Q1 2014, LG shipped 12.3 Million smartphones, a 19% increase from Q1 2013 and the company bought in KRW 3.41 trillion (USD 3.19 billion) in revenue, itself a small increase of 6% from last year during the same period. Interesting figures for the company come in the form of LTE smartphones, with 5 Million of them being shipped in Q1, a 79% increase year over year as well as being the most LTE smartphones ever shipped in a single quarter for LG. Forming 41 percent of all smartphones shipped, it’s clear that LTE smartphones are becoming a lot more popular. Operating profits rose a little bit according to LG, but there were no concrete figures disclosed.
The business side of things can be quite boring at times, but it’s good to see that LG is experiencing a little growth. It’s important to remember that LG started to do things different last year, launching the G2 on every carrier, and that G2 has yet to launch a new smartphone here in the US, yet. That right is reserved for the G3 which, as LG themselves let slip will be launching some time in the next couple of months. Not to mention, Q1 – being right after Christmas and the Holidays – is never a good time for a company selling pricey electronics. With LG selling fewer high-end devices here in the US, and their smartphones available on pretty much every carrier it’s no surprise that LG has experienced a little growth and hopefully, the company continues to post great figures throughout 2014.