Financial report: LG sold around 60 million smartphones.


South Korean Tech giant LG Electronics Inc. has released news detailing its financial results for 2015. The financial report shows that the company sold about 59.7 million units of of their mobile devices in 2015, a slight improvement compared to the 59.1 million unit sold in 2014. The company witnessed their highest sales in the fourth quarter of 2015, in which 15.3 million units of mobile devices were sold, over the October- December period.

LTE phones made the bulk of sales in the fourth quarter of 2015, with nearly 11 million units sold, making it the first time that quarterly sales of LG’s LTE-powered smartphones have gone over 10 million sales since 2010. For all of 2015, the combined shipment of LTE-powered smartphones jumped 55 percent on-year to 34.5 million units.

Over all, the company’s mobile division posted an operation loss of an operating loss of 43.8 billion won, continuing to post weak returns amid the heightened competition. The company’s mobile division reported sales of 3.78 trillion KRW ($3.26 billion), however the figure dipped 0.4% year-on-year. The figure improved by %12 in the fourth quarter of 2015, which the company said was owed to the improved sales in the North American market, led by the V10 smartphone.

The company also said that the tech industry will see tougher competition in the budget smartphone segment, which it will make efforts to capture a sizeable portion of the market by rolling out various low-end models with improved design. Plans to increase the promotion of flagship products was also made mention of by LG. This will include last years V10 smartphone and upcoming LG G5 which slated to be released at the upcoming Mobile World Congress in February.

For more information on LG’s financial report on other business franchise, follow source link.

Source: KH

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Ifeanyi Joseph

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