From PC World: Strong demand for its flagship G3 boosted LG Electronics’ overall smartphone shipments to a record 16.8 million in the third quarter.
The results appear to be sharply in contrast with that of rival South Korean company Samsung Electronics, which in its earnings guidance earlier this month warned that its third quarter operating profit could fall by almost 60 percent because of sluggish sales of mobile devices.
LG reported Wednesday that operating profit in its mobile communications business soared in the third quarter, boosted by sales of its premium LTE smartphones. Shipments were up 39 percent year-on-year, boosted both by the G3 and the cheaper L series phones such as L Bello and L Fino.
The company’s Chinese rivals have not had an impact yet on the LTE market, according to analysts.
“The G3’s market response has been good, ... and demand for LTE smartphones increased rapidly,” said Yoon Bu-hyun, LG’s head of mobile division, during an earnings conference in Seoul. “We expect [the] smartphone market to grow continuously with seasonality [in the fourth quarter], especially for the LTE market.”
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