LG may have figured out how to make money selling Android phones

[Corey]

For the past year, the only company that has consistently made money selling Android smartphones has been Samsung (005930). However, things are looking up for rival electronics manufacturer LG (066570), whose mobile business last quarter recorded revenues of $2.58 billion, a 15% increase from the previous quarter. The Next Web notes that LG's mobile business also "notched a 23 percent quarter-on-quarter increase in smartphones shipments, which hit 7.6 million over the three-month period" and were led by its high-profile Optimus G and Nexus 4 models. While LG overall was unprofitable on the quarter, the fact that the company has seen a noticeable uptick in its mobile business suggests that its effort to ramp up its smartphone sales with high-end devices is off to a good start.

 

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