LG, the world's third largest smartphone manufacturer, has just released its Q3 2013 financial report. The report shows that the company shipped 12 million smartphones in the quarter, which is basically on par with the 12.1 million units shipped in Q2 of this year. Sales revenue from mobile devices reached $2.75 billion, an increase of 24% year-over-year.
However, fierce market competition and increased marketing expenses had an adverse effect on the profitability and average selling price of LG’s mobile devices. LG stated that it will strive to enhance the market performance of high-end smartphones like the LG G2 during the holiday shopping season, while also balancing the sales of mid-range devices.
Data from IDC indicates that in Q2 of this year, LG ranked third in global smartphone shipments with a 5.1% share, trailing only Samsung and Apple. However, compared to Lenovo and ZTE, LG's lead is not significant.
Currently, LG is focusing on promoting its latest flagship model, the LG G2. Meanwhile, the company's curved smartphone, the G Flex, has been frequently featured in leaks, with an expected launch in the South Korean market in November.
(G Flex)
The header image is from mthai.