LG Mobile's 2014 results: 16% annual revenue boost, but not quite a top-5 performance

LG Mobile's 2014 results: 16% annual revenue boost, but not quite a top-5 performanceWe heard on a quarterly basis that LG was doing well, with record high shipments in Q2 and again in Q3, and it’s now official: LG’s 2014 was superb.

The headline here is that LG’s net profit was up 125% year-on-year, and while that’s for LG’s combined business ventures (including TVs, home appliances, air conditioning and energy solutions), mobile in particular gets a nod.

LG’s 2014 net profit came in at KRW 501.40 billion, and when LG reports its full-year consolidated revenue, we’re into inconceivably large figures i.e. KRW 59.04 trillion (circa USD 55.91 billion). Interestingly, that latter figure was “mainly boosted by a 24 percent increase in smartphone shipments.”

A total of 59.1 million LG smartphones were shipped throughout 2014, with feature phones taking LG to 78.2 million.

LG Mobile posted a 16% increase in annual revenue, with particular credit going to North America, where shipments rose a whopping 78% year-on-year in Q4.

That all sounds pretty great, but it’s probably not quite enough for LG to claim its spot as a top-5 mobile player in terms of shipments. Huawei shipped a remarkable 75 million smartphones in 2014, while fellow Chinese manufacturer Xiaomi weighs in with around 61.1 million. Lenovo/Motorola will likely take the final spot, with Samsung and Apple on top.

Still let’s not take anything away from LG. Things are looking pretty sweet. Going forward, its Mobile division will “concentrate on improving its brand power, operating more efficiently, and focusing on selective key markets.” Sounds good to us.

via: LG Newsroom

Read more about: LG G3Android

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