Editor in Chief
- Dec 30, 2010
- Reaction score
- Austin, TX
We have a slew of LG stories to crank out for you guys this morning. The first of which is regarding their recent financial earnings call. Apparently, 2014 was a very good year for LG. They sold a whopping 59.1 Million smartphones last year, which was a 24% increase from the previous year. This increased sales allowed the South Korean company to post double the net profit from 2013.
In fact, the third quarter for LG was their best in five years with 16.8 million smartphones sold. Despite the rosy outlook for last year, LG is playing it safe with a conservative outlook for this year, stating that 2015 should be a, "challenging year ahead with greater competition globally from various manufacturers." LG plans to work on "improving its brand power, operating more efficiently, and focusing on selective key markets."
Interesting... it seems that it wasn't just Apple chipping away at Samsung's big lead in the smartphone world. We had several Chinese manufacturers like Lenovo, Huawei and others, but Samsung was also beset by LG at every turn. It's tough to be the king of the hill.