LG Confirms G2 and Nexus 5 Sales Gave Its Mobile Business a Big Fourth-Quarter Boost
As part of its fourth-quarter earnings report, Korea’s LG said that its quarterly smartphone sales reached 13.2 million units, up 54 percent from a year ago.
That number, ahead of some market estimates, was buoyed by sales of the G2 and Nexus 5 smartphones. Though still distant rivals to Apple and Samsung, both Sony and LG managed to post significant market share gains during the quarter.
Revenue for LG’s mobile unit for the full year was $11.85 billion, up 29 percent from a year ago.
However, higher marketing costs and price competition took a toll on profit margins, LG said, noting that it had a negative 1.2 percent operating margin in the mobile business.