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LG declares record-high profits and mobile phone sales V.J. | , 12:24 p.m. July 22, 2009 2009-07-22

It seems that the South Korean mobile phone manufacturer is not really affected by the global economic crisis, at least their mobile division isn’t. LG has declared that it has broken its profit records for Q2 for this year. The company sold 30 million mobile phones from April-June, over 7 million more than in Q1.

However, LG says it expects its profits to slow back during Q3 as Q2 has traditionally been a good time for LG. In any case, LG posted a net profit of over 630 million euros, up over 60% from the same period last year.

Additionally, the company has sold 29.8 million handsets in Q2, compared to 22.6 million in Q1. As for handsets, LG reported an 11% operating profit margin, up 6.7 percent in Q1. Even more, the company has also posted huge profits in the TV market.

According to reports, a large part of the company’s mobile phone sale success is because LG has both high- and mid-level handsets available in markets. These are good times for LG, but what is good now can morph to worst by tomorrow; let’s see what the future brings. LG has claimed it was planning on overtaking Samsung by 2012, a possibility that shouldn’t come as a surprise.

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