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LG exceed expectations for Q1, seemingly unaware of recession

Sunday, April 26, 2009
LG brought home their Q1 report card today and it's all A's. They've managed a good 2.8 billion USD out of handset sales, which exceeded even their own expectations, and are doing 22.6% better than last year.

As far as units shipped, LG indeed had a lower score of 22.6 million phones, which is a 7% decline as compared to the previous quarter.
The strongest sellers were midrange phones like the LG Cookie and LG KS360.

Having a firm footing in the midrange, LG plans to push into the high-end segment and achieve a 10% growth during the next quarter.

These plans seem optimistic as LG predict the market will shrink 10% this year, coinciding with Sony Ericsson's prediction. On the plus side, LG employees can breathe a sigh of relieve - there's no talk of cutting jobs here.

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