It is the time of the year again as companies release their revenue numbers for their final quarter of 2014! We have reported Samsung’s Q4 report which doesn’t look too good for them with Apple breaking their fiscal records in Q4, and now we will follow up with LG’s. Following their Q3 reports, LG seems to continue gaining profits and revenues.
As reported by LG Mobile Communications Company, they have brought in around US$14.26 billion (MYR49.8 billion) worth of revenue. As compared to the figure in Q4 2013, this is an increase of 16%! This means that mobile generated revenues for 2014 has increased, and it is thanks to the strong growth and demands from North America.
Throughout the year of 2014, LG has shipped around 59.1 million devices, of which are said to be what LG has expected them to be. Shipments of smartphones has increased by 78% as compared to Q3 2014 – one of the highest growth rates in the mobile phone industry! If compared to Q4 of 2013, this shows an increase of 24% – making up the majority of 78.2 million total mobile devices sold this year!
Moving on from smartphones, LG’s Home Entertainment Company has grown 31% year-on-year to US$482.01 million (MYR1.7 billion). LG’s Energy Solutions and Home Appliances reported profits of US$241.57 million (MYR 864.94 million) and US$2.65 trillion (MYR9.49 trillion) respectively.
With those figures, it shows that LG as a whole is doing well and had a strong year in 2014. One of the factors that contributes to this is the release of phones with powerful specs such as the G3 series. This year, with LG’s G Flex2 and G4 being released soon, LG is expected that LG holds its strong position in 2015.
However, recently, it has been revealed that LG has had troubles in developing their LG G Flex 2 that is powered by Qualcomm’s Snapdragon 810. As many has said that overheating was the issue with the device, LG has denied it earlier on. A week later, LG has came clean that they ran into several issues with their initial batch of chips, but have since then worked together with Qualcomm to deal with the issue, and assured that the new flagship will be released on schedule along with LG G4.
As revealed, LG has said that their future flagship of LG G4 will have features following the market demands – featuring a metallic body. Whether or not they will retain their strong position in 2015 will be determined by their new flagship of phones. Here’s to hoping that their new flagships will be successful!