Nexus 4 doesn't stop LG from posting a loss

Nexus 4 doesn't stop LG from posting a loss

The Google Nexus 4 helped LG to report a 15% quarterly increase in sales in the final quarter of 2012.

The sought after device, which has led to a war of words between Google and LG about who has been to blame for scarce supplies, was one of the company's success stories, in a quarter when it shipped 15.4m units. Smartphone shipments increased 23% on the previous quarter, hitting 8.6m devices. It made its biggest quarterly sales of the year, making 2.81tr Korean Won (£1.64bn), up 15% on the third quarter.

Looking ahead, LG said the roll out of 4G, including in the UK, would lead to a boost in smartphone revenues and market share.

Overall, LG posted fourth quarter sales of 13.50tr Korean Won (£7.84bn), down six per cent on the previous year. Profits were hit by a fine relating to alleged cathode-ray tube pricing issues that were imposed by the European Commission. It made a quarterly loss of 468bn Korean Won (£272.0m).

Author: Graeme Neill

Written by Mobile Today
Mobile Today

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