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Since the LG G3 Launch in Korea, Company Shares up 11%

June 11, 2014 - Written By Alexander Maxham

The LG G3 was announced last month and launched in Korea last month as well. We’ve been hearing from the Korean news outlets that the LG G3 is outselling the Samsung Galaxy S5 during it’s launch by quite a bit actually. And LG is selling around 80,000 units per day. Which is great news for LG. The LG G3 is slated to launch in the US later this month on Sprint, AT&T, T-Mobile and Verizon, and I’m sure it’ll be a great seller after all the praise the G2 got and now the G3.

On May 27th, the day before the LG G3 launch in Korea, LG’s stock closed at about 70300 won ($69.14). Now about 10 days later, LG’s shares are up to 78600 won ($77.31). Which is about a 11.8% increase. This brings LG’s shares to a 52-week high, and with the global launch of the LG G3 coming later this month, it wouldn’t be out of this world to see it rise a bit more. 

Soh Hyun-chul from Shinhan Investment & Securities Co. and Lee Seung-hyuk from Korea Investment & Securities Co.,have predicted the sales numbers for Q2 2014 and that the LG G3 is really going to help out the company in turning a decent profit. Soh Hyun-chul thinks that LG will make about 11 billion won ($10.8 million USD) in profit, while Lee Seung-hyuk think that LG will do around 20.6 billion won($20.2 million USD) in profit. Both numbers are great numbers for LG, especially for a company that wasn’t really making high-end devices until a year ago. Now these numbers aren’t just factoring in all the LG G3 sales, but also all the mid-range and low-end devices. Which LG has plenty of them. Including the Optimus L70, and the Lucid 3 on Verizon. Which are pretty good mid-range devices, I’d say. 

This would be a pretty big turnaround from last year’s Q3 where they reported an operating loss of 80 billion won, or about $78.6 million USD. And these are the type of turnarounds we like to see. Hopefully HTC can do the same thing soon, but then again they’ve been trying to do that for years.