LG Electronics is forecasting a tough third quarter despite posting positive results for the second quarter. The handset vendor said it is facing slowing shipments to emerging markets and higher competition in developed markets.
The handset maker, which ranks fourth in the handset market in terms of global shipments, said revenues grew 39 percent from the year-ago quarter to $3.7 billion, which was more than one-third of the parent company's revenue in the second quarter. The division reported an operating profit of $531 million, up nearly 12 percent over the year-ago quarter.
LG shipped 27.7 million handsets, with North America accounting for 34 percent of its global markets, up 45 percent over the year-ago quarter and a 14 percent increase sequentially. The question is: Has LG overtaken Motorola's market share?
- see RCR Wireless News
LG to overtake Motorola's market share soon. LG story