fermentation technology: LG Q3 2013 earnings - $2.78 billion in mobile revenues, 12 million phones shipped

Thursday, October 24, 2013

LG Q3 2013 earnings - $2.78 billion in mobile revenues, 12 million phones shipped

Mobile device sales up 24 percent year-over-year

LG has just posted its third quarter 2013 financial results, encompassing earnings from its four major global divisions. As a complete company, LG posted $12.51 billion in revenues leading to $196.34 million in operating profit, which is up 27 percent year-over-year. We're most interested in the mobile side of things though, so let's get into the high points of LG's "Mobile Communications Company" for the quarter.

The mobile division posted revenues of $2.75 billion for Q3, which is up 24 percent year-over-year. Those solid revenues came from 12 million phones it shipped in the quarter, which nearly hits its record number of 12.1 million from Q2. LG claims that the average selling price of those handsets dipped due to competitive pressures, however.

Going forward it plans to focus on sales of its highest-end handsets like the LG G2 through the holidays, and simply letting sales of its lower-end 3G-only handsets sell to the masses. In all this is a solid quarter that continues along the same growth path from Q2.