LG has announced that it shipped a record 10.3 million smartphones during the last fiscal quarter. Revenues in the South Korean firm’s mobile business grew by 28.5% year-on-year to 3.21 trillion won (£1.94 billion), but the company’s overall earnings saw a sharp decline.
Overall profits for the first three months of 2013 amounted to $20.3 million, a stark contrast to the $221.7 million reported last year. However, LG’s smartphone success helped it rake in $13.01 billion in revenue, a 6.8% increase.
The upturn was attributed to sales of LG’s Optimus G, Optimus G Pro, Optimus L series and Nexus 4 smartphones, and the promise of new additions to these ranges has seen the firm forecast further gains during the next quarter.
The company did not fare well in the television market, with revenue plummeting to $4.77 billion due to lower-than-expected sales of its plasma line.
Sales of its LCD sets did increase in Europe, China and developing countries, but the firm expects the TV market to remain stifled for the foreseeable future.
