C
Christian de Looper
Guest
LG announced their financial results for the fourth quarter of 2013, and it looks like they did pretty well! The South Korean company announced that they made an overall revenue of $14.03 billion, making their end of year total $53.10 billion. Their profit margins increased from $1.08 billion in 2012 to $1.17 billion in 2013.
There are a number of reasons LG was able to have such a great year, with a major factor being their booming smartphone business. They reportedly shipped 13.2 million smartphones in Q4 alone, helping them bring in $3.38 billion revenue, which is an 18% increase from Q3.
While LG’s phone business is certainly one of their most prominent businesses, their home entertainment business ended up being the most important factor in bringing in so much money. It is projected tat LG will increase revenue to $57 billion in 2014.
Source: LG News Room
Come comment on this article: LG shipped 13.2 million smartphones in Q4 2013
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