LG Innotek’s Q4 sales gained quarter-on-quarter while its Q4 operating profit fell q-o-q last year. LG Innotek, the world's largest manufacturer of smartphone camera modules, saw its 2015 sales and operating profit contract year-on-year.
LG Innotek said on Jan. 25 that its sales rose 2.1 percent q-o-q to 1.59 trillion won while its operating profit dropped 25.7 percent q-o-q to 45.1 billion won in the fourth quarter of last year (based on K-IFRS (Korean International Financial Reporting Standards)). Compared to a year earlier, both sales and operating profit fell 12.3 percent and 22.3 percent, respectively.
LG Innotek’s 2015 sales and operating profit totaled 6.13 trillion won (down 5.1 percent y-o-y) and 223.7 billion won (down 28.8 percent y-o-y), respectively.
“Last year, demand for parts declined due to a slowdown in the worldwide smartphone market and competition intensified even further in the global market. Under such unfavorable circumstances, LG Innotek’s new growth engine businesses, including the electric/electronic vehicle parts business, have maintained its growth momentum,” said an official from LG Innotek.
