LG Mobile has talked up 'strong' sales of smartphones in the final quarter of 2010, and indicated it will look to launch more premium smartphones and differentiated tablet PC products in 2011.
LG Mobile Communication Company went through a torrid time in the third quarter of 2010, but the arrival of new products such as the LG Optimus One and Windows Phone 7-toting LG Optimus 7 were always likely to help perk up the figures.
Indeed, 306 million handsets shipped gave rise to a 10.9 per cent revenue increase between Q3 and Q4, although LG did admit that smartphone sales had still slumped during the final quarter, contributing to a $226 million (£142 million) net loss:
"Unaudited results based on IFRS for the three-month period ending December 31, 2010 reflected strong revenues in home entertainment and home appliances, driven by an increase in flat panel TV and handset shipments, which partially offset soft performance for mobile phones during the quarter," read the release.
LG indicated that it has strong plans for tablets and smartphones in 2011, as it looks to keep pace with the likes of Samsung and Apple.
"LG Mobile Communications Company revenues increased 10.9 percent quarter-over-quarter due to strong sales of smartphones such as Optimus One," said LG in its financial results release.
"A total of 30.6 million handsets were shipped in the quarter, reflecting an 8.0 percent increase over the previous quarter.
"In 2011, the company will focus on profitability by launching more premium smartphones and differentiated tablet PC products while regaining its cost competitiveness in feature phones."
LG is expected to be releasing an Optimus Pad in 2011, its first branded foray into the tablet PC market, at Mobile World Congress 2011, but the statement said that it will offer 'differentiated tablet PC products' indicates a broader range.
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