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Chocolate Delivers Sweet LG Results

Tue, 02/27/2007 - 2:37pm
Susan Rush

The Chocolate handset helped LG Electronics produce positive third quarter results. The Chocolate handset continues to perform well for the company in both Europe and the U.S.

LG reported third quarter sales of $6.34 billion, a 4.5 percent quarter-over-quarter increase and a 0.6 percent increase when compared to the year ago quarter. Operating profit came in at $206.5 million, which was led by the company's Mobile Communications and Digital Display Company groups.

The Mobile Communications group reported sales of $2.41 billion and an operating profit of $102 million.

Third quarter mobile phone sales came in at 16.5 million, up from 15.3 million in the previous quarter. LG shipped 10.5 million CDMA handsets, 5.6 million GSMs and 0.5 million WCDMAs.

The LG Chocolate phone is on pace to ship 6 million units before the end of the year. The handset made its debut in Europe in May, and followed with a U.S. launch in August.

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