The company that was once
synonymous with home appliances has reinvented
itself into a smartphone manufacturing juggernaut. LG
Electronics has just announced their third quarter
earnings which saw an operating profit of $450
million, in big part thanks to their record breaking
16.8 million Android phone sales. The company has
doubled their year over year profits and isn’t
expecting to slow down anytime soon. They
announced that they expect to strengthen
their positioning in the budget smartphone market
with its L Series III models, despite the landscape
becoming more competitive.
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LG is doing well in the component business as well,
spurred by the good performance of its mid-range and
high-end devices, including the G3 and its variants, G3
Beat and G3 Screen . LG Display recently
announced good earnings as well, while LG Electronics
recently announced its first smartphone processor
designed in house, the Nuclun .
On thursday we’ll find out exactly how much of the
pie LG has taken away from their Korean
counterpart Samsung . Samsung is set to release their
third quarter earnings and it’s expected to be bad , and
even Samsung has admitted that it will be
worryingly bad .
Via : Engadget
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