LG will launch two flagship smartphones this year following an unprofitable 2015

Although it consistently launches some of the best smartphones in the industry, it looks like LG's mobile division is having problems with improving shipment figures and maintaining profitability. Earlier today, the company posted its Q4 earnings report, revealing the full numbers and also sharing some insight on how it plans to tackle these problems looking forward.

During the fourth quarter of the last year, LG was able to ship 15.3 million smartphones, a 2% improvement compared to the previous quarter, but a 2% decline compared to Q4 2014. Throughout 2015, LG shipped 59.7 million smartphones, 0.5 million more than the year before. Despite this minor improvement, however, the company has fallen just shy of breaking even in 2015 as far as its profits are concerned. In 2014, the company recorded a small, but existing profit.

As far as the US smartphone market is concerned, LG recorded a 13% QoQ improvement in terms of shipped units during Q4 2015, a feat that's likely to be attributed to the moderate commercial success of the LG V10.

Acknowledging that these numbers could be much improved, LG says that it plans to introduce two new flagship smartphones in 2016. One of these phones will be the upcoming LG G5, a handset that's said to be unveiled late next month at MWC 2016 in Barcelona.