LG ships 12 million smartphones, Q3 sales up 24 percent to $2.75 billion

LG Mobile Communications on Thursday said its third quarter 2013 sales rose 24 percent to $2.75 billion (KRW 3.05 trillion).

The sales growth reflects in smartphone shipments in the third quarter of the current year. LG shipped 12 million smartphones in the third quarter.

However, shipments did not assist the Korean devices major to improve profitability during the quarter.

LG said profitability and average selling price were affected by increased competition and higher marketing investments.

LG, which competes with Sony Mobile, Nokia, Samsung, Apple, BlackBerry, etc. is spending huge funds to promote smartphones and innovate new devices. But LG market share did not improve significantly.

The Korean company says that its focus will be on premium smartphones in future. This means that the company will be giving thrust on value market and not volume in coming quarter.

LG Mobile Q3 revenue growth

“LG plans to focus on increasing sales of new premium products such as the LG G2 smartphone during the peak holiday season as well as maximizing 3G and mid-tier mass devices such as the L II Series and F Series,” said LG in a statement.

Meanwhile, LG Electronics said its third quarter 2013 revenues reached $12.51 billion (KRW 13.89 trillion).

LG posted 27 percent increase in third quarter operating profit to $196.34 million (KRW 217.80 billion) compared with the same period last year.

Pix source: LG

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