Printed from http://www.electronista.com

LG Q4 results show $60 net loss, increased smartphone sales

updated 06:12 am EST, Mon January 27, 2014

Profits across entire company, except for mobile phone unit

LG has seemingly improved its finances from the previous quarter, but managed to achieve a net loss, according to its latest financial results. Revenues of $14.03 billion gave it an operating profit for the quarter of $223.89 million, though this apparently dropped to a net loss of $60.2 million when currency movements were taken into account.

The company also took the opportunity to reveal that it received consolidated revenues of $53.1 billion for the full year 2013, with a net profit of $203.65 million, which is said to be an improvement on the 2012 results. LG's yearly operating profits increased from $1.08 billion to $1.17 billion.

The company's mobile unit had mixed results when compared to the rest of the company. Its fourth-quarter results saw it recording an operating loss of $51.7 million, down from the $39.7 million profit in the same period last year, on sales of $3.38 billion. A total of 13.2 million phones were sold in the period, giving it a 54-percent increase on 2012, and an improvement on the 12 million sold in the previous quarter. Annual revenues increased 29 percent to $11.85 billion.

LG G2
LG G2


The Home Entertainment segment of the company increased its quarter-on-quarter revenues by 18 percent to $5.58 billion. Though it had higher demand for LCD televisions in North America and Asia, its full-year revenue declined five percent from 2012, giving it a yearly operating profit of $369.86 million. The financial improvement of the unit over the year was put down to a stronger product mix, which included OLED televisions and Ultra HD devices, which it believes it will sell more of in 2014.

Home Appliances had a slightly muted reduction in sales, down to $2.67 billion in the quarter, but this didn't stop it from improving its year-on-year profit to $78.08 million. This again is put down to higher demand in developed markets, though slower growth in India and Central and South America hampered results. The Air Conditioning & Energy Solutions Company had quarterly sales of $677.33 million in the fourth quarter, a year-on-year increase of eight percent. Full year financial results include revenues of $4.24 billion and an operating profit of $255.71 million.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Lemur BlueDriver

"Oh no, the check engine light is on…again! What one of the hundreds of reasons could it be this time? Probably going to cost a fort ...

Sponsor

toggle

Most Commented

 
toggle

Popular News