LG Mobile Communications on Monday said its 2013 revenue rose 29 percent to KRW 12.97 trillion ($11.85 billion). G2 and Nexus 5 supported the growth. Smartphone shipments grew 54 percent last year.
In a statement, the Korean devices vendor said smartphone shipments grew 54 percent to 13.2 million units. LG focused on high end smartphones in 2013 with several innovations.
Last week, Samsung said it would lower its marketing budget due to pressure on smartphone business in 2014.
LG on Monday said its fourth-quarter revenues increased 18 percent to 3.59 trillion ($3.38 billion) quarter-on-quarter with help from stronger LTE smartphone sales such as G2 and Nexus 5.
The positive impact of improved product mix was offset by marketing investments to strengthen LG’s brand equity and intensified price competition.
Meanwhile, LG Electronics announced consolidated revenues of KRW 58.14 trillion ($53.10 billion) and net profit of KRW 222.70 billion ($ 203.65 million) for full-year 2013. Operating profits increased in 2013 to KRW 1.28 trillion ($1.17 billion) from KRW 1.22 trillion ($1.08 billion) in 2012.
LG said its fourth-quarter 2013 consolidated revenues were KRW 14.92 trillion ($14.03 billion) with an operating profit of KRW 238.1 billion ($223.89 million). In the fourth quarter, LG posted a net loss of KRW 63.5 billion ($60.21 million) primarily due to higher non-operating expense as a result of FX movements.
Pix: kavenyou
