LG ships 59 mn smartphones in 2014, revenue up 16%, net loss of $189 mn

LG Mobile Communications posted 16 percent increase in annual revenue to KRW 15.06 trillion or $14.26 billion – driven by North America, where shipments increased 78 percent during the fourth quarter of 2014.

LG said its fourth-quarter revenue increased 5 percent to $3.48 billion.

LG shipped 59.1 million smartphones in 2014, an increase of 24 percent. The number of phones sold was 78.2 million last year.

LG to showcase 4G LTE smartphones in India on Monday
LG will concentrate on improving its brand power, operating more efficiently, and focusing on selective key markets.

LG Electronics posted net profit of $474.81million in 2014, an increase of 125 percent. LG said its revenue of $55.91 billion was mainly boosted by a 24 percent increase in smartphone shipments.

Revenue in Q4 2014 was $14.06 billion. LG posted a net loss of $189.41 million primarily due to the write-off resulting from the closure of LG’s plasma TV operations.

Baburajan K
editor@gizmolead.com

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