LG has record mobile quarter but sees overall losses

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LG Electronics saw revenue for its mobile division rise 15 per cent in the last three months of 2012, attributed to strong sales of its premium smartphones

LG Electronics has reported a net loss of 468 billion Korean won (£272.2 million) for the fourth quarter of 2012, despite seeing smartphone shipments increase 23 per cent.

Fourth quarter consolidated revenues were 13.50 trillion Korean won (£7.9 billion) – a six per cent decrease from 2011.

However, in Q4, LG sold 15.4 million mobile phones, and revenue for the sector grew by 15 per cent from Q3 to 2.8 trillion Korean won (£1.6 billion).

LG attributed growth to increased revenue for premium LTE smartphones such as its Optimus G, and the launch of Nexus 4. It said sales for its 3G smartphones also grew, with “robust” L-series sales.

The manufacturer has a positive outlook for 2013 for its mobile division, and plans to increase revenue and profitability with the launch of succeeding models to the Optimus G and 3G smartphone L-series, and mass LTE smartphones with its F-series.

However, profitability in its home entertainment sector declined, as increased competition meant lower average selling prices for products such as TVs.

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