LG’s Q2 2012 Earnings: $138M In Net Profits, Up 46% YOY, Phone Sales Still Lagging

LG has been turning a corner of late, getting its mobile division out of a six-quarter-long rut.

Today’s Q2 report outlines a 46 percent increase in net profits year-over-year at $138 million, though phone sales continue to be an obstacle.

Overall revenues went up from last quarter, but are still down from a year ago. The handset division in particular had an operating loss of $49.5 million, which has a lot to do with the decline in feature phone sales. Smartphone sales, on the other hand, rose to 44 percent of all units sold, which is up from Q1′s 36 percent.

It’s not expected that LG compete directly with the iPhone, but the company has to make a push against other Android competitors. In every review of an LG phone, we’ve been pretty sorely disappointed. Meanwhile, Samsung, HTC and Motorola continue to deliver premium experiences on Google’s mobile platform.

Even so, LG truly does seem to be turning things around, albeit just barely.