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LG’s Annual Profit Doubled In 2014, The Company Sold 59.1 Million Smartphones

January 29, 2015 - Written By Kristijan Lucic

The reports / quarterly results throughout 2014 were saying that LG is doing really well as far as turning profit goes. The company had several really successful devices in 2014, and the most important one is definitely the company’s flagship, the G3. This company has definitely took the opportunity to show what they can do and in times when Samsung has issues keeping their profits up, LG has definitely started to grab market share. We now have the official report from LG revealing their results in 2014, so, let’s take a look.

This Korean tech giant sold 24% more smartphones in 2014 than they did a year before that, which is a significant number and great result for the company, of course. LG shipped a total of 78.2 million mobile phones throughout 2014, and 59.1 million of those mobile devices were smartphones. This is still less than Huawei, Lenovo / Motorola and Xiaomi, but it’s a significant increase for LG and they have a great opportunity to improve upon that this year. This Korea-based company also says that their shipments in North America increased by 78% in Q4 of 2014, which is just astounding.

LG’s Home Entertainment, Appliances and Air Conditioning & Energy Solutions units posted a revenue of $55.91 billion (overall), and a net profit of $474.8 million for 2014. These are some big numbers, but they become even more important if you put them in perspective, this basically means that LG had a 125% increase in 2014 compared to 2013, which is just great for the company, it only means they’re doing the right things and should keep going in that direction.

If you’d like to check out LG’s full press release, check out the source link down below and see what LG had to say. That being said, do you think LG will keep this growth rate in 2015? What do they need to do in order to keep going in this direction and keep growing? The company has already released the G Flex 2 handset at CES in Las Vegas and the G4 will quite probably be their next big smartphone release. I do believe that LG’s UI still needs some work, but I do like other aspects of their devices very much and I do believe they’re doing great a job lately.