LG posted an expected seasonal decrease in handset shipments and flat growth year-on-year. The handset maker shipped a total of 15.8 million units during the quarter. The company said improvements from its more diversified product portfolio and industry-wide growth in the WCDMA sector buoyed operating margins. LG has ridden the success of its iconic Black Label Chocolate series, but now the company hopes some of its more premium devices, like the Shine handsets and its digital multimedia broadcast devices, will garner a similar cult following. LG Electronics suffered a $132 million Q1 net loss, but mostly because of television sales.
For more on LG's quarter:
- see this write up from Business Times