LG sold almost 60 million smartphones in 2014, reports positive financial results

While Samsung isn't doing too well when it comes to smartphone sales and profits, LG announced that its financial results for 2014 were positively impacted by a 24% increase in smartphone shipments.

LG sold a total of 78.2 million mobile handsets throughout 2014, with 59.1 million of them being smartphones. This doesn't seem to be enough for top 5, since Huawei sold 75 million smartphones, Xiaomi shipped 61 million, and the Lenovo-Motorola duo certainly also sold more than 60 million units. Even so, LG is happy with how things went last year. The company says that shipments in North America increased 78% in the fourth quarter of 2014.

LG expects 2015 to be challenging in the smartphone market, seeing "greater competition globally from various manufacturers." The company will focus on consolidating its brand power, targeting key markets, and operating more efficiently.

Overall, LG (including the Home Entertainment, Appliances, and Air Conditioning & Energy Solutions units) posted consolidated revenues of $55.91 billion, and a net profit of $474.8 million for full year 2014 - a 125% increase over 2013. For more on LG's latest financial results, check out the company's press release at the source link below.


source: LG