LG sold a total of 59.1 million smartphones during 2014. The phone company's sales figure is an increase of 24 percent from 2013. Revenue for the year was also up by 1 percent, partly because of strong phone sales. Overall profit for LG increased by 125 percent. LG had its strongest quarter for phone sales in five years with Q3 2014 when it sold 16.8 million units.

Not every quarter last year was as great for the company. LG ended up with a loss of $189.41 million in Q4 because it closed down its plasma TV division. Though, revenue for the quarter was still high at $14.06 billion.

LG's biggest growth in the phone market has come from North America where shipments increased by 78 percent in Q4 2014 compared to the same quarter in 2013.