LG unveiled its financial results for the past year and fourth quarter of 2011

The South Korean company LG Electronics announced its financial results for the past year and fourth quarter of 2011.

Consolidated revenue in the fourth quarter of 2011 totaled 13.81 trillion Korean Won (about $ 12.05 billion) with operating profit of 23 billion Korean Won ($ 20 million).

For the full 2011 consolidated revenues of 54.26 trillion Korean Won (about $ 48.97 billion). Despite the net loss for 2011 of $ 433 billion Korean Won (391 million $), operating profit recovered to 280 billion Korean Won ($ 253 million), whereas a year ago it was 176 billion South Korean Won ($ 153 million).

Telecommunications division of LG Mobile Communications Company, engaged in the production of mobile terminals, said in the fourth quarter of 2011, improvements in operating profits - South Korean Won 12 billion ($ 10 million) and sales to 2.78 trillion South Korean Won ($ 2.42 billion .) The company is linked with the high demand for smartphones, including the most recent model Otimus LTE. But in the end, the whole of 2011 sales units totaled 11.69 trillion Korean Won (10.55 $ bn), which is 9.9% less in comparison with 2010.