LG Electronics reported a return to growth in its mobile unit in the second quarter after a string of financial losses. The company posted a new record in terms of smartphone shipments for the period thanks in large part to the launch of its latest flagship device, the G3.
No longer weighed down by its stumbling devices business, Nokia cast an optimistic outlook for its 2014 performance, with second-quarter net profit of 2.51 billion euros ($3.38 billion) offering a healthy start. Having just completed his first quarter as Nokia's CEO, Rajeev Suri told analysts during a conference call that the recently ended period was "a very positive quarter for the company."
AT&T Mobility added more than 1 million net postpaid subscribers in the second quarter, its best performance in the postpaid market in nearly five years. In contrast to rival Verizon Wireless, which reported second-quarter earnings Tuesday and had tablets make up the bulk of its postpaid adds, the vast majority of AT&T's postpaid adds came from smartphones in the second quarter.
Apple sold 35.2 million iPhones in its fiscal third quarter, just below analysts' expectations but not too far off. Analysts had forecast around 35.9 million iPhone sales, according to the Wall Street Journal. Attention is now turning to the next iterations of the iPhone and whether Apple will introduce a wearable device dubbed the iWatch, as many industry watchers expect it will.
Sprint is likely going to report brutal subscriber losses in the second quarter, according to financial analysts. That will be largely the result of Sprint's 3G CDMA network upgrade, which has temporarily resulted in degraded service as the carrier works to improve coverage, call quality and network speeds. In response, the analysts said, Sprint will likely cut prices in the near term to remain competitive.
Verizon Wireless surged back to subscriber growth in the second quarter, though the vast majority of its roughly 1.4 million new subscribers in the period purchased tablets, not phones.
Google's chief business officer, Nikesh Arora, is leaving the company to become vice chairman of Japanese wireless carrier SoftBank. The move overshadowed the release of Google's second-quarter earnings Thursday and is the latest shakeup in the search giant's executive team.
Ericsson reported strong results for the second quarter, with its sales and profit margins beating analysts' expectations. The Swedish vendor expects a better sales and business mix in the second half of this year and is riding stronger growth in network-capacity projects, which are more profitable than network buildouts.
Intel's mobile business continued to bleed cash and its wireless-related revenue declined significantly in the second quarter even as the company as a whole reported strong earnings for the period. The company said it is making progress toward its goal of shipping its chips inside 40 million tablets in 2014--but it is currently losing money because it is paying OEMs to put its chip inside their tablets.
During an appearance on CNBC, Verizon Communications CEO Lowell McAdam said the company will report "over 1.4 million" postpaid net customer additions in the second quarter. That's way up from the 941,000 postpaid customers Verizon added in the second quarter of last year.