LG Q4 2014 profits up 28% YoY, 15.6 million smartphones shipped

LG Electronics has reported revenues of 15.27 trillion won (US$ 14.06 billion) in Q4 2014 that ended December 31st, 2014, an increase of 4.9% compared to the same quarter last year with operating profit of 275.1 billion (US$ 253.31 million), an increase of 28 percent from the same period the previous year. Net profit for the fourth quarter showed a net loss of 205.7 billion won (US$ 189.41 million) primarily due to the write-off resulting from the closure of LG’s plasma TV operations, said the company. For the complete financial year of 2014, LG reported a net profit of 501.40 billion won (US$ 474.81 million), a 125% increase compared to 2013. Operating profit was at 1.83 trillion won (US$ 1.73 billion), an increase of 46% YoY. Mobile Communications sector reported a quarterly revenue of 3.78 trillion won (US$ 3.48 billion) , a 5% increase compared to the same quarter in 2013 with annual revenues of 15.06 trillion won (US$ 14.26 billion), a 16% increase compared to 2013 due to increase in sales in North America region, which saw 5.7 million smartphone sales, a 78% increase YoY. It shipped 15.6 million smartphones in the quarter, slightly less than 16.8 million in the previous ...

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