LG posted its 2014 financial results this morning, boasting a fantastic Q4 to cap off a successful year all around. On the numbers side, LG posted a net profit of 474.81 million (USD) for the full year of 2014, which is increase of 125% over 2013. Additionally, LG’s operating profit increased as well, hitting 1.73 billion (USD) from 1.14 billion (USD) the previous year.
LG thanked its positive growth to a 24% boost in smartphone shipments during the year, landing its consolidated revenue at 55.91 billion (USD) for 2014.
While brief, LG gave a bit of insight into their mobile business plans for the upcoming year, highlighting brand power, efficiency, and focusing on key markets.
Expecting a challenging year ahead with greater competition globally from various manufacturers, LG will concentrate on improving its brand power, operating more efficiently, and focusing on selective key markets.
On the consumer end, we hope this good year and good quarter lead to awesome products from LG in 2015.