LG has announced performance results for the final quarter in 2013. Good news was abundant for the South Korean technology giant, with the company announcing overall revenues of $14.03 billion in Q4 2013. That added onto their end-year total to bring in $53.10 billion for the entirety of 2013. As good as those numbers look, LG’s profit margins on the year only increased to $1.17 billion, up slightly from the $1.08 million made in 2012.
So what helped LG to reach those numbers this past quarter? Well, their booming smartphone business isn’t a bad place to start. The company reportedly shipped 13.2 million smartphones in the fourth quarter, helping them to bring in $3.38 billion in revenue (which was 18% higher than Q3). That brought year-on-year revenue numbers for their mobile business to a significant 29% increase to the tune of $11.85 billion, meaning it made up for about a fifth of overall revenue.
LG’s mobile business was beat by home entertainment (television and blu-ray), though that particular division saw overall profits decline by about 5%. They were able t beat out appliances and home energy solutions, though, making mobile one of LG’s most important sectors going forward. For 2014, LG’s looking to increase revenues to about $57 billion, and we don’t see them having a problem meeting that goal if their mobile business is just as good as it was in 2013.