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