LG`s operating profit saw a notable 46% growth last year

LG Electronics` consolidated operating profit recorded 275.1 billion won (approx. 251.4 million U.S. dollars) in the fourth quarter of last year, a 40.5 percent decrease from 465 billion won (425 million dollars) of the previous quarter, the company source said on Thursday. The Korean electronics giant generated 15.27 trillion won (14.06 billion dollars) for the fourth-quarter consolidated revenue, a 3.8 percent increase from the previous quarter and a 4.9 percent increase year-on-year.

The company’s full-year consolidated revenue was 59.04 trillion won (55.91 billion dollars) increased by 4 percent from the previous year. Operating profit skyrocketed by 46 percent to 1.82 trillion won (1.73 billion dollars), an all-time-high in five years since 2009. Last year’s record-high smartphone sales of 59.1 million units have boosted the company`s operating profit.

LG`s Mobile Communications Division in charge of smartphone business brought the revenue of 3.78 trillion won (3.48 billion dollars) and operating income of 67.4 billion won (61.6 million dollars) in the fourth quarter of 2014. The smartphone business unit’s operating profit had been in the black for three consecutive quarters since the second quarter of last year, but the figure has plunged by 60 percent compared to the previous quarter’s 167.4 billion won (153 million dollars).

The company`s Home Entertainment Division in charge of TV business generated revenue of 5.43 trillion won (4.96 billion dollars) and operating profit of 1.7 billion won (1.55 million dollars). LG`s Home Appliances Division reported 2.88 trillion won (2.63 billion dollars) and 85 billion won (77.73 million dollars) in revenue and operating profit respectively.