Earnings: LG Electronics Mobile Sales Up 18 Percent

By James Quintana Pearce - Thu 19 Apr 2007 07:25 AM PST

LG Electronics, the world’s fifth largest handset maker, reported a 2007 first quarter loss of 122.6 billion won (US$132.1 million), compared with a profit of 150.8 billion won (US$162 million) a year ago, due to problems in its LCD display business. Its mobile communications business did well though, reports The Hankyoreh. LG posted 2.51 trillion won (US$2.7 billion) in mobile handset sales, up 18 percent year-on-year, with an operating profit of 121.4 billion won (US$130.6 million). LG sold 15.8 million handsets in the first quarter, up 13 percent year-on-year. If Nokia’s estimate of 253 million handsets sold globally in the third quarter is correct, LG had a 6.2 percent marketshare.