LG sells record number of smartphones through Nexus 5 and G2

LG has sold 13.2 million smartphones in the past three months, a record for the South Korean company. The increase is mainly due to sales of the G2 and the Google-made Nexus 5, LG says.

In the same period last year, LG still sold around 8.5 million smartphones and compared to the summer, the number of smartphones sold increased by about one million. Despite record sales, LG did not earn more from smartphone sales than a year earlier, as it spent more on marketing and cut prices more than in the same period last year.

LG released the G2 in September, while the Nexus 5 hit the market in early November. The comment about the reduced prices probably refers to the Nexus 5, which was released in many more countries than the Nexus 4 last year. The device combines hardware that is expensive to buy or make with a relatively low price.

With the number of 13.2 million smartphones sold, LG has a market share of about 5 percent, larger than before. That puts LG at least close to the third position in the global market, behind Apple and Samsung, although some manufacturers have yet to announce their numbers or don’t do so at all. Manufacturers such as Huawei, ZTE and Lenovo each sell around ten million smartphones or more per quarter.

LG made a loss of 43 million euros in the past quarter. The result for the whole of 2013 is still positive, with a net profit of 150 million euros.

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