LG’s LTE mobile sales in Korea, Japan and U.S. help in 5% revenue growth

Telecom Lead Asia: LG Mobile Communications’ LTE smartphones sales in Korea, Japan and U.S. have assisted the company to post 5 percent increase in revenue at $2.16 billion in the third quarter of 2012.

LG Optimus L-Series

The Korean consumer electronics major improved significantly in the 2012 third quarter, recording operating profit of $19.42 million.

In addition, Optimus L-Series expanded into 3G markets, contributing to sales increase.

Smartphone shipments exceeded 14 million units, up 9 percent from the previous quarter.

LG expects to further increase its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.

Meanwhile, LG Electronics said third-quarter net profit of $138.57 million with operating profit of $195.06 million showed significant improvements from the loss in the same period last year.

However, third-quarter revenues fell 4 percent year-over-year to $10.93 billion due to continuing decline of feature phone sales and overall weak demand.

IT products led by IPS monitors and monitor TVs also increased from the previous quarter. Operating profit of $78.55 million was unchanged from third quarter 2011.

In the fourth quarter, the company plans to increase sales of LCD TVs by expanding marketing of CINEMA 3D Smart TVs and enhancing its premium brand positioning with the new Ultra HD TV.

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