Perhaps at the start of LG’s smartphone career, the company did not do as well as their South Korean rival Samsung, but over the years LG has made progress and with the LG G3 from last year, LG made quite an impression, so much so that according to LG’s latest financials, it seems that the company is doing pretty well for itself.
According to the numbers released by LG, they have announced that they managed to see an increase in annual revenue by as much as 16% which is about $14.26 billion. The company states that this is thanks to the North American market where they have seen an increase in demand for their handsets.
During the fourth quarter of 2014, LG revealed that they saw a 78% increase in shipments to North America from the previous year. The company’s Q4 revenue was at $3.48 billion which was a 5% increase from the same quarter in 2013. They also managed to ship 59.1 million smartphones in 2014, an increase of 24% from the previous year.
This brought the total amount of smartphones sold by LG last year to 78.2 million. According to LG, the company expects “a challenging year ahead with greater competition globally from various manufacturers, LG will concentrate on improving its brand power, operating more efficiently, and focusing on selective key markets.” In any case it’s a pretty good effort from the company and we have to wonder if the upcoming LG G4 will help keep the momentum going.
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