LG Electronics’ mobile devices unit saw smartphone sales in the fourth quarter increase 23 per cent to 8.6m devices, compared with the previous quarter of 7m. In addition, LG revenues also increased 15 per cent over the previous quarter to $2.6bn.

However, LG’s overall mobile handset shipments declined in the fourth quarter to 15.4m, from 17.7m in Q4 2011 and 30.6m in Q4 2010. Despite the weaker shipment volumes, LG said it was encouraged by the sales of its premium LTE smartphones and said it plans to increase smartphone revenues and market share by launching follow-up devices to the Optimus G and the L-series as well as the new F-series. The South Korean vendor reported overall full-year consolidated revenue of $45.2bn and net profit of $80.75m.

FierceWireless: LG rides high in Q4 with a 23% bump in smartphone sales; TelecomTV content partner.