LG Mobile reports 16% increase in annual revenue in 2014

It's been a hectic several weeks for accountants the world over, and after Apple boasted record numbers, now LG's figures have been published. LG Mobile Communications Company reports a $14.26B annual revenue, a steady 16% increase on a yearly basis.

The rise is fueled in no small part by the North American market, where Q4 2014 marked a substantial 78% increase in units shipped compared to the same period in 2013.

Out of a total of 78.2M handsets sold globally, 59.1M were smartphones, a 24% increase. The smartphone sales are reported to be the reason for the boost in full-year consolidated revenue to $55.91B.

The figures of the mobile subsidiary are only average for the corporation as a whole. LG Home Entertainment Company (the one making HDTVs) is the top dog with a 31% percent increase in revenue to $18.35B.

More importantly, the combined net profit of the conglomerate has skyrocketed to $474.81M, a massive 125% increase over 2013 numbers. Operating profit has seen a notable 46% growth to $1.73B, as well.

Source