LG’s entry into the top 3 largest mobile phone manufactures in the world in 2008 is quite a remarkable feat, and as their Q1 2009 sales figures will show, it isn’t by any means just a fluke.
Despite shipments dropping by 7% as compared to Q1 of last year, they were still able to earn $3.02 billion in sales which is up by 16.8% as compared to last year. Handset sales accounted for $2.78 billion which is likewise up by a significant 22.6% compared to Q1 of 2008. This is largely thanks to huge success of the LG Cookie and the improved sales of their QWERTY devices.
With Nokia posting huge losses in Q1, LG’s gains during this financial unstable times is a testament to their resurgence in the market. As we can expect more feature-packed phones such as the Areana and Viewty 2 to become available later this year, we can only see brighter things ahead for LG in the coming months.