South Korea's LG Electronics has released it Q4 2015 financial results, revealing that company sold 15.3 million smartphones in the October-December period, contributing to total sales of 59.7 million units in 2015 that is slightly higher than 59.1 million units sold in 2014.
Of the 15.3 million smartphone units that LG sold in Q4, about 11 million were LTE models, making this the first time that the LG's LTE enabled smartphones quarterly sales crossing 100 million mark.
LG's mobile division reported a revenue of 3.78 trillion won ($3.26 billion) in Q4, which is 0.4 percent down year-on-year, but was 12 percent up compared to Q3 2015, thanks to the V10's sale in the North American market. The division's operating loss also improved as compared to Q3. LG in a press release also mentioned that it will release two flagship devices in 2016.
"The smartphone marketplace is expected to be increasingly competitive in 2016 due to anticipated premium models from competitors and further price competition within the mass tier space. The introduction of two new flagship models and a more cost-competitive value chain is expected to improve profitability in 2016," LG said in a statement.
LG Electronics as a whole reported that its net loss narrowed in Q4 2015, as compared to 2014, the reason being sluggish global market demand for TVs and softer growth of smartphone market. The net loss stood at 140.4 billion won ($117 million), down from 205.6 billion deficit, during the same period in 2014. For all of 2015 LG Electronics' net income stood at 249.1 billion won ($210.03 million), down 50.3 percent from the previous year (2014).
Source | Via
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