LG has announced its latest earnings figures, with the manufacturer posting a revenue of $3.3 billion from the mobile division, an increase of 1 percent from the same period last year. Operating profit was a meager $172,000. Shipments declined by 3 percent to 14.1 million units, although LG has mentioned that it saw a 36 percent year-on-year increase in North American shipments.
The vendor attributed the uptick in sales to better performance in the mid-range smartphone and tablet segments. Increased sales in North America was offset by a decline in growth in its home market, which is usually a major contributor to LG's coffers in the mobile segment.
Globally, LG sold 8.1 million LTE-enabled handsets, its highest ever in a single quarter. While recent launches like the LG Bello II do not feature 4G connectivity, LG has stated that it will bring affordable LTE-enabled phones to emerging markets later this year. Along with low-cost handsets, LG will also focus on the premium segment, and is rumored to launch a second flagship device in 2015.
Overall, LG recorded a revenue of $12.96 billion, a decrease of 7.6 percent from last year, with net profit declining by 45 percent to $195 million. The manufacturer is aiming to turn things around next quarter with new products and marketing initiatives.