LG or Lucky Gee!


Technology Futurist has broken down the recent result of LG Electronics, for the quarter ending June 30 are in and LG Electronics posted a strong performance.

…with net income increasing from roughly 494.4 billion won (about $427 million) versus 267.3 billion a year ago. More remarkably, handset unit sales grew 89 percent from a year ago, to 9.94 million sets.  The strength continued in August, when LGE registered a significant increase in 3G and US GSM phones.  Quarter-to-August handset shipment rose to 24.9% QoQ (or about 7.8 million units).  LGE has been one of the few global handset makers that have achieved sequential shipment growth and market share gains.  Apparently LGE and a few other Japanese players have been outpacing the large handset manufacturers (Nokia, Motorola and Samsung) in the 3G arena. Telecoms Korea recently had a post about rumors that LG will reportedly sell its communication unit (except the handset division) to either Nortel or Cisco.  Since I do not own a subscription to the site, I could not dig deeper into the story, but all my Google news searches have turned up empty thus far – any info will be much appreciated.

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