(MENAFN) South Korea's LG Electronics said that it has recorded a 125 percent surge in its annual net profit for 214 boosted by an increase in sales of its flagship smartphones and television sets, Arab News reported
The company said that it has registered a net income of USD462 million in 2014, compared with USD203.21 million a year earlier, while its operating profit was up 46 percent USD1.66 billion and sales rising 4 percent.
The country's second-largest home appliance and smartphone maker said that the annual profit surge came despite a USD187.70 million net loss recorded during the October-December period of 2014 due to halting production on its plasma TV operations.
However, LG's fourth-quarter operating profit soared 28 percent to 275.1 billion won, and sales rose 4.9 percent to 15.3 trillion won, in addition to its LG's mobile division reporting a 16 percent increase in revenue mainly due to increased shipments to North America, with the division shipping 59.1 million smartphones to the region, an increase of 24 percent.
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