1/27/2014 11:05:49 AM
LG Mobile boosts smartphone shipments by 54% in 2013
LG Mobile’s fortunes are on the rise with stronger smartphone sales boosting its annual revenues by 29% and Q4 revenues up 18% quarter on quarter.
Reporting its annual results LG Electronics said its LG Mobile Communications Company had seen annual revenues up nearly a third to $11.8bn with Q4 revenues rising 18% to $3.4bn in 2013.
The Korean electronics giant also reported smartphone shipments on the rise, with a 54% increase on the previous year to 13.2 million units. This compares with the 12 million it shipped in Q3. LG Electronics said smartphones such as the G2 and the Nexus 5 had helped drive rising sales.
The report added that the positive impact of improved product mix ‘had been offset by higher marketing investments to strengthen LG’s brand equity and intensified price competition.’
Looking at the company as a whole LG Electronics reported a modest operating profits increase in 2013 to $1.17bn from $108bn in 2012.