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LG shipped 14.1 million smartphones in Q2 2015, but sees 60% decline in profits

LG Logo - Nexus

LG has just posted its Q2 2015 financial results and it’s not very impressive for the company’s share holders. The Korean manufacturer has mentioned that this quarter saw a decline in profits by 60% compared to the same period last year, which speaks volumes about the kind of competition faced by the company in the industry today. This comes as the manufacturer shipped 14.1 million phones globally and even increased its presence in the U.S.

The bright side here is that the company has reported a 36% revenue increase in the North American markets, although global smartphone shipments were down by 3% for the company. LG even posted a marginal 1% increase in revenues on the global level, but given the slim profit margins and the relative lack of demand for its premium devices, this didn’t make much of a difference for the company.

LG will hope for a better sales figure in the third quarter of the year and with the G4 only recently being unveiled, there should be a lot of positives from the coming quarters.

Source: The Wall Street Journal – requires subscription

Via: Android Central

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