In the second quarter of 2009, LG posted record-high earnings in sales and operating profit on both a parent and a global basis. Shipments of mobile phones recorded an increase of 7.8 percent YoY and 32 percent QoQ to 29.82 million units thanks to strong demand in mid-tier models such as the full touchscreen Cookie phone, QWERTY keypad messaging phone LG-KS360, a multimedia powerhouse feature-rich Arena with new S-Class UI, enV3 with a QWERTY keypad for messaging, and enV Touch with a QWERTY keypad and touchscreen.
Profitability improved with a product mix centered on new model launches and solid growth from existing mid- to high-tier handsets. With the global economic downturn expected to continue, LG sees the global market declining over 6 percent YoY to around 280 million units in the third quarter but, as for LG, steady growth is expected with the introduction of high-end devices such as the fourth model in the LG Black Label Series, smartphone GM730, and the one-of-a-kind GD900 Crystal with transparent keypad.
The detailed numbers: "The Mobile Communications Company reported KRW 5.140 trillion (USD 3.981 billion) in sales, 25.8 percent higher than the previous year, and operating profit of KRW 545 billion (USD 422 million) with a margin of 10.6 percent. Handset sales accounted for KRW 4.877 trillion (USD 3.778 billion), up 29.9 percent YoY, and operating profit reached KRW 538 billion (USD 417 million) for a margin of 11.0 percent."