When it comes to financial reports, we don’t really care much about LG because we know the South Korean company is always doing well. It may not be on top of the mobile game but it’s one of those few tech giants that maintain their numbers. Unlike HTC, Sony, and even Samsung, we believe that LG will remain in its place in the consumer industry.

We’re now on the third quarter of the year which means reports for the previous quarter are being gathered, summarized, and released. For LG, the company has shared its operating income for the previous quarter which amounted to $503.10 million (KRW 584.6 billion). Compared to last year-same quarter, that’s a 140 percent increase. Much of the increase came from the Home Entertainment and Home Appliance & Air Solution divisions.

The two groups reported the highest quarterly operating profit so far for the company–$373.24 million (KRW 433.7 billion) from the LG Home Appliance & Air Solution Company and USD 4.04 billion (KRW 4.70 trillion). The result of these increase in numbers is also an increase of global consolidated revenues amounting to $12.05 billion.

Major reasons for these improvements are the strong sales of air conditioning systems, as well as, the strong overall performance in its native Korea and across Asia and Europe.

When it comes to the mobile division, the LG Mobile Communications Company saw a 12 percent increase from Q1–$2.86 billion (KRW 3.33 trillion). That’s good news from the previous quarter but sadly, it was a decline from last year. One reason for the operating loss was perhaps the increase in marketing expenses for the new products including the LG G5.

With the release of the LG K, X, and V series, shipments have increased by three percent from Q1. LG reported that 13.9 million smartphones shipped in Q2. We’re expecting numbers will further improve next quarter as LG introduces the next-gen V, X, and K series phones in the coming months.

An earnings conference call will be held today July 29. We’re tempted to make more guesses for next quarter but at least we know that LG isn’t in a limbo.

SOURCE: LG

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