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Q1 was somehow good to Motorola but it was supposed to be better for LG

Monday, May 3, 2010
LG announced the financial results for Q1 of 2010. Their global sales and profit are lower than expected as they have concentrated on developing products and sales channels in emerging markets. They expect a turn for change as they refocus back on smartphone in Q2 2010.

Handset shipments grew by about 20% to 27.1 million units as compared to the same quarter last year. Despite increased shipments, profit fell on year on year basis (19.7%) due to the heavy focus on emerging markets.

LG are keeping their chins up though and they've got big plans for the next quarter - a 5% growth in shipments compared to Q2 of 2009 and more than 10% growth compared to this quarter. They also plan to bump up the profitability with new products and an emphasis on smartphones.

Moving to Motorola.. The mobile phone division is still in the red zone but there's a noticeable improvement over last year. as they posted an operating loss of 192 million US dollars, which is a marked improvement over the 545 million dollar loss for the same quarter last year.

Motorola introduced six Android-powered phones this quarter and shipped a total of 8.5 million phones, 2.3 million of which have been smartphones. The number of shipped smartphones is actually up from the previous quarter (2 million smartphones from a total of 12 million handsets shipped). However, Motorola lost the top spot in the US as Apple shipped 8.8 million iPhones and overtook Motorola's results.

The other departments of Motorola performed better than they did the same period last year, so total earnings for the company came up to 69 million US dollars (earnings for Q4 of 2009 were 142 million dollars).

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