SEOUL, KOREA - LG Electronics’ smartphone business earned an operating profit of 58.6 billion won last year, first in three years.
An LG official said, “Our profit-centered strategy, i.e., reducing the sales of feature phones and increasing smartphone sales, has paid off. We achieved an operating profit of 56.3 billion won in the fourth quarter, which contributed to turning the full-year results into a positive territory. In particular, Optimus G and Optimus Vu earned a good response in the global marketplace.”
LG Electronics has lost its momentum in the mobile phone market due to the failure in coping with the fast rise of the smartphone market. Led by Apple’s iPhone, the global mobile phone market has been reorganized into one centered around smartphones since 2007. LG Electronics, however, launched its first smartphone model late in 2010.
After years of lagging behind, LG Electronics grabbed a chance to reverse the situation through the releasing of 4G LTE smartphones. LG Electronics, thereafter, expanded its presence gradually in the smartphone market.
enews@hankyung.com
*Article provided by The Korea Economic Daily
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