LG Shipped 59 Million Smartphones In 2014, Accounting For 25 Percent Of Its Revenue

More than a quarter of LG Electronics' total revenue came from selling smartphone devices, the company announced today. Top dogs like Samsung and Apple would be wise to keep an eye on LG, which increased its smartphone shipments in North America by 78 percent year-over-year during the fourth quarter of 2014.

Accounting for all territories, LG collected $14.26 billion in smartphone related revenue in all of 2014, representing more than 25 percent of the company's full-year consolidated revenue of $55.91 billion. That's based on 59.1 million smartphone sales, a jump of 24 percent compared to the previous year. Toss in feature phones and LG's mobile handset sales climb to 78.2 million.

LG Phones

Can LG keep the good times rolling? That depends on what the competition cooks up, and LG knows it's in for a dogfight.

"Expecting a challenging year ahead with greater competition globally from various manufacturers, LG will concentrate on improving its brand power, operating more efficiently, and focusing on selective key markets," the company said.

LG also had a pretty good year selling televisions. As a result of increased TV demand, the company's Home Entertainment division reported a full-year operating profit of $482.01 million, up 31 percent year-on-year, with full-year revenue increasing slightly to $18.35 billion. Looking ahead, LG expects that increasing demand for premium displays (OLED and 4K Ultra HD TVs) will help offset higher competition and weaker currency movements in emerging markets.