LG's 4Q smartphone shipment at 8.6 mn, up 23 percent

LG Electronics's smartphone shipments increased 23 percent quarter-on-quarter to reach 8.6 million in the fourth quarter.

In terms of total mobile shipment, LG Electronics shipped 15.4 million units in 4th quarter, an increase of 7 percent in quarter-on-quarter shipment.

The company's revenue from handset sales increased to KRW 2.8 trillion in 4Q, an increase of 15 percent vis-a-vis 3Q. The company's revenue from mobile communication also increased to KRW 2.8 trillion, an increase of 15 percent quarter-on-quarter.

LG's mobile revenues increased in 4th quarter due to premium LTE smartphones such as OptimusG and Vu:2. In the 4th quarter, sales grew for 3G smartphones with robust L-series and Nexus 4 launch.

The company's profitability increased due to stronger revenue and better cost structure despite higher marketing and R&D expenses.

In 2013, the LTE market is expected to grow with launch in Europe and emerging markets while competition will intensify with handset players competing to gain market share.

In 2013, LG Electronics is planning to increase its revenue and profitability by enhancing cost competitiveness and by launching models to Optimus G and 3G smartphone L-Series, in addition to launching mass LTE smartphones with F-Series.