LG Sells 8.6M Smartphones in Q4, Records Loss of $431M

South Korean handset and TV manufacturer LG has announced its financial results for the fourth quarter of 2012.

LG Electronics generated revenues of $45.22 billion and a net profit of $80.75 million during the entirety of 2012. Although it suffered a 6 percent revenue decrease when compared to 2011, operating profits increased to $1.01 billion from $342.06 million.

The company's handset division reported a 14.7 percent quarter-over-quarter increase in revenue to $2.57 billion, representing a year-over-year jump of 3.1 percent. It generated a profit of $50.8 million in its handset division in 2012's Q4, which is an increase when compared to a loss of 5 billion KRW last year.

For the whole year, handsets delivered sales of $9.1 billion, a decrease of 13.1 percent from 2011. During 2012, the handset division made an overall profit of $47 million.

Smartphone shipments increased by 23 percent during the fourth quarter of 2012. LG sold 8.6 million smartphones in the period, an increase of 1.6 million from the 7 million units it sold in the same quarter during 2011. The firm has sold over 10 million L-Series smartphone units thus far and overtook Apple as the second leading handset manufacturer in the U.S. during December.

Contact Us for News Tips, Corrections and Feedback

TOPICS
Zak Islam
Contributor

Zak Islam is a freelance writer focusing on security, networking, and general computing. His work also appears at Digital Trends and Tom's Guide. 

  • BoredErica
    $431 loss and suddenly life isn't so good now, is it?
    Reply
  • joytech22
    dark_wizzie$431 loss and suddenly life isn't so good now, is it?Aaaand next quarter they'll make that back like nothing happened.

    Then there's us, working our butts off for $1200~ a week.
    Reply
  • xero141
    dark_wizzie$431 loss and suddenly life isn't so good now, is it?
    I have it on good authority that the guys are LG are still living a pretty good life.. Them business guys just spin stuff like $431m around and buy themselves sports cars or something for the effort.
    Reply
  • Crazy world, turn over $45 Billion and still make a loss!

    My sales may be peanuts compared, but at least I make a profit!
    Reply
  • fuzzion
    joytech22Aaaand next quarter they'll make that back like nothing happened.Then there's us, working our butts off for $1200~ a week.
    What kind of buttock work pays $1200 a week?
    Reply