LG Earnings: A Bit Of Brightness For Cellphones (AAPL)(RIMM)(NOK)

Telecom & Wireless

Published: July 21, 2008 8:36 am

Last Updated: April 28, 2020 12:41 am

The cellular handset business may not be as bad off as some analysts suppose. Result from Korean electronics company LG, which operates at the high end of the market, were fairly strong.

For the last quarter, the company shipped a record shipped a record 27.7 million handsets. According to the FT, "Profit from LG’s mobile phone business, which took up 38 per cent of its revenue last year, climbed 73 per cent."

Shares in Nokia (NOK), Apple (AAPL), and RIM (RIMM) have been under some pressure lately as concerns have mounted over whether a slowing economy will cut into sales of expensive smart phones and multimedia handsets.

The LG results could have been worse.

Douglas A. McIntyre

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