LG’s G2 and Nexus 5 help push mobile revenues up 29pc

The company reported mobile revenues of £7 billion in 2013, with fourth-quarter sales in particular helped be 4G-enabled smartphones

LG saw mobile revenues increase 29 per cent in 2013 to almost 13 trillion Korean won (£7 billion).

Fourth-quarter (October – December) results alone show revenues grew 18 per cent sequentially, to 3.59 trillion Korean won (£2 billion). They were helped by stronger LTE (4G-enabled) smartphone sales such as the LG G2 and Nexus 5, the company said.

Smartphone shipments grew 54 per cent year-on-year to 13.2 million. LG said that although it had a better product portfolio in 2013 than in 2012, it invested a lot more in marketing which had an impact on profits.

LG’s home entertainment division saw an 18 per cent revenue increase in Q4, to 5.93 trillion Korean won (£3 billion) – although revenue for LCD TVs declined by five per cent from the previous year.

The company’s total revenues for 2013 were 58.14 trillion Korean won (£32 billion), in comparison with 2012’s 50.96 trillion Korean won (£28 billion).