LG sees handset shipments rise 8 percent in 2008

January 23, 2009 at 14:29 Leave a comment

LG Electronics saw handset shipments in the fourth quarter ended 31 December 2008 go up 8 percent from the year earlier quarter. Shipments reached 25.7 million, which resulted in a record 100.7 million units being sold in 2008 versus 80.5 million units in 2007. LG’s mobile communications division, which also includes network equipment, saw sales go up 34.6 percent year-on-year to KRW 4.49 trillion, versus KRW 3.33 trillion. Operating profit for the unit was KRW 176 billion, down from KRW 270 in Q4 2007. Handset sales accounted for KRW 4.09 trillion, up 40.3 percent. The operating profit margin of the unit declined 8.8 percent to 5.2 percent due to increased marketing to minimize year-end inventory. While the global economic downturn is expected to continue into 2009, LG’s business target is to grow continuously and expand market share, capturing more of the market for feature-packed premium models, smartphones and mid-to-low end mass volume units. 

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Entry filed under: LG Electronics, Mobile Industry News, Mobile Network Operator, Mobile News, Smartphone, Wireless Industry News, Wireless News. Tags: , , , , , , .

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