LG Electronics Inc. announced its fourth quarter and full year 2015 results today. It experienced a 27 percent fourth quarter increase in operating profit from the same period in 2014, thanks in large part to the home appliance and home entertainment companies.
LG Electronics Inc. is comprised of four companies; LG Home Entertainment Company, LG Mobile Communications Company, LG Home Appliance & Air Solution Company, and LG Vehicles Components Company.
The LG Mobile Communications company posted an increase of 12 percent in sales from the third quarter to the fourth quarter of 2015. However, sales figures were unchanged from the same period in 2014. A total of 15.3 million smartphones were shipped in the fourth quarter of 2015. 2015 total yearly sales were 59.7 million, compared to 59.1 million in 2014.
LG expects increasing competition in 2016 and plans to introduce two new flagship products with a more cost-competitive value chain in order to improve profitability.