Mobile revenues up 34.5-percent year-over-year, still the smallest division in terms of operating income
LG has announced its Q2 2013 financial results, showing strong growth in all of its divisions including its mobile business. For that mobile business, LG posted revenues of $2.78 billion for the quarter, an increase of 34.5-percent year-over-year. Record sales of 12.1 million smart phones in the quarter led to an operating profit of $54.37 million, which is up year-over-year but down quarter-over-quarter due to lower average sales prices of phones.
As we all know, LG makes far more than just phones and posted solid profits in its Home Entertainment, Home Appliance and Air Conditioning and Energy Solutions divisions. LG as a whole posted $13.58 billion in revenue and 426.92 million in operating profit for the quarter.
In many previous quarters these stronger divisions were there to prop up its wavering mobile division, but it's nice to see LG doing well in mobile as a stand-alone business. With strong growth across a wide range of devices -- and more on the way -- we may be looking at the resurgence of LG.