While Nokia and Sony Ericsson have shown considerable losses, except some profitable aspects, it is certainly the celebrating time for LG. The company has finally released its profit and loss statistics for the first quarter of 2009 and has confirmed good performance on various fronts.

To begin with, LG has made it possible to sale handsets worth 2.8 billion US dollars. According to the company reports, the figure is even better than what was expected, considering the period of recession ruling the market. Moreover, this figure has exceeded the figure obtained after Q1 of 2008 by 22.6%. This is definitely a remarkable performance worth appreciation.

However, LG has suffered the decline in terms of number of cell phone units sold across the globe in the first three months of the year. According to the reports, the company has sold 22.6 million cell phone units, which is 7% less than the figure obtained from preceding quarter.

LG earned profits mainly by targeting mid-budget customers. The company handsets like LG Cookie and LG KS360 have been sold like hot cakes. The latter device targeted teenage customers, confirming them as least worried group of customers.

LG also aims high for the rest of the year by introducing devices like Arena with S-Class user interface and Viewty Smart, the second member of the series. Also, there is no news of employee’s jobs being cut down by the company. So, you can eagerly wait for some exciting news by the end of the year.

This entry was posted on Wednesday, April 22nd, 2009 at 5:39 am and is filed under LG News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.