LG today announced its fourth quarter 2012 and full-year 2012 financial results. The company reported the consolidated revenues of KRW 50.96 trillion ($45.22 billion) and a net profit of KRW 91 billion ($80.75 million) for full year 2012. Operating profit increased significantly in 2012 to KRW 1.14 trillion ($1.01 billion) from KRW 379 billion ($342.06 million) in full year 2011. Fourth quarter 2012 consolidated revenues were KRW 13.50 trillion ($12.37 billion) with an operating profit of KRW 107 billion ($98.08 million).
The LG Home Entertainment Company reported record sales of flat-panel TVs with 9.3 million units in the fourth quarter resulting in a 17.4 percent revenue increase quarter-on-quarter to KRW 6.44 trillion ($5.91 billion) and full-year operating profit of KRW 542 billion ($480.92 million).
The LG Mobile Communications Company reported a 7 percent unit increase quarter-on-quarter in mobile handset shipments to 15.4 million with more than half of the units coming from smartphones. Fourth quarter revenues were the highest of the year, growing 15 percent to KRW 2.81 trillion ($2.58 billion) quarter-on-quarter.
The LG Home Appliance Company posted almost flat revenues year-on-year, with sales of KRW 2.94 trillion ($2.7 billion) in the fourth quarter. The LG Air Conditioning & Energy Solutions Company reported sales of KRW 683 billion ($626 million) in the fourth quarter.