LG has shared its latest preliminary earnings report for the last quarter of 2020 as well as actual results for the rest of the year. The Korean company’s performance looks to be promising as it projects $17.21 billion in revenue and $590 million in operating profit for Q4 2020, which is the highest ever for the period.
This makes it an increase of 15% in revenue year over year while the operating profit figure went up by 536%. The rest of the year also showed remarkable performance in terms of sales as the company crossed the KRW 60 trillion for the fourth time in a row. The sales reached KRW 63.3 trillion ($58 billion) and the operating profit was $2.9 billion, which is a 31% increase compared to 2019.
The detailed results are expected to surface at the end of this month with a detailed breakdown of how each division performed. LG has not been releasing a lot of phones lately and it will be interesting to see how the Mobile division is performing with its current output. In any case, we expect to see healthy numbers from LG given the positive results of 2020 and even better projections for the final quarter.