LG Electronics Mobile Communications announces improved fourth-quarter 2013 financial results 2013

The LG Mobile Communications Company (LG) announced consolidated revenues shipping 13.2 million Smartphones during the fourth quarter of 2013, recording the highest quarterly sales in its history. It recorded a growth of 82 percent during that time period, with unit sales reaching 47.6 million units in 2013 compared to 26.6 million units in 2012. 

The company had also managed to boost its LTE Smartphone sales reaching 4.9 million units in 2013, which is more than double the figures recorded for the same period last year, with an increase of 63 percent from the third quarter of 2013. This achievement is attributed to LG’s latest and most advanced Smartphone productions. 

The LG Mobile Communications Company reported a 29 percent increase in annual revenues to KRW 12.97 trillion (USD 11.85 billion) year-on-year and a 20 percent increase in operating profits. Overall sales of mobile phones, increased by 25 percent compared with the previous year — from 56.6 million units to 71 million units. Of total mobile phones sold in 2013, Smartphones accounted for 67 percent, up from 46 percent the previous year. 

In order to maximize profit and growth, LG plans to continue its two-tier strategy by enhancing marketing for premium Smartphones such as G Series while also pushing hard to increase sales in mass-market LTE and 3G Smartphone segments. 

LG Electronics is keen to provide continuous innovation to the industry, merging a couple of important elements such as easy to use, competitive pricing along with the modern and stylish designs.