LG has seen a tremendous growth in this year as it has recorded a WON 217.8 billion ($196.34 million) operating profit in the third quarter of this year after it spends more money into the marketing of LG G2 smartphones.
Samsung and LG are both based in Korea, but it was always Samsung who drank most of the juice from the fruit and with 27% increase in profit over the last year’s same quarter, LG has finally rises its head.
LG announced the financial report and also said that despite the slow sales in Home Entertainment products and low exchange rates, the company has achieved this profit. The company also unveiled that it has sold over 12 million smartphones via LG Mobile division. The company sees a bright future in its flagship smartphone G2, which is also a best performer in last quarter and it aimed at selling more G2 devices in coming holiday season. LG also sold many affordable smartphones like LG L2 and F series of phones. Moreover, LG has already begun to sell 6-inch LG G Flex, a curved smartphone,a Samsung Galaxy Round competitor.
Google will be happy as LG uses their Android OS on most of its smartphones and it is good to see the LG on the road, where Samsung is leading the market. Samsung’s earnings report of Q3 2013 will be available soon and it would be a blast as many analysts expected a record breaking $7.28 billion profit.
[source (LG financial report PDF file)]