Global handset market to decline 10% in Q2: LG

LG Electronics has forecast a 10% fall in global handset sales in the second quarter after seeing a 7% decline in Q1 shipments.

But it expects to boost its own sales by 10% quarter-on-quarter by focusing on high-end phones such as the Arena handset.

LG\'s own handset shipments declined to 22.6 million units in Q1, LG said down 7% year-on-year and 12% quarter-on-quarter.

But strong sales of mid- and high-tier phones helped LG\'s handset division reap an operating profit of 255 billion won ($188.9 million). Handset revenue was up 22.6% year-on-year to 3.92 trillion won.

Company-wide, slumping sales and 316 billion won in forex losses led to a net loss of 191 billion won in Q1. Operating profit fell 25% to 455.6 billion won, a result which still beat  expectations. Overall sales grew 14.6% year-on-year to $9.12 billion.

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