What you need to know
- iPhone 12 Pro camera supplier LG saw its revenue rise 43% last year thanks to the iPhone 12's launch.
A new report says that the iPhone 12 Pro and 12 Pro Max camera supplier LG saw its revenue rise 43% in 2020 thanks to bumper sales of the device.
LG InnoTek said on Tuesday that it has posted 681 billion won in operating income 2020.
This is 43% higher than in 2019.
Operating income was focused on the fourth quarter, in which the company posted 342.3 billion won, a rise of 37.9% from the same time period a year ago. Sales in the quarter was 9.54 trillion won, a rise of 19.6% year-on-year.
LG InnoTek was the exclusive supplier of the triple camera and 3D Time of Flight module on iPhone 12 Pro and iPhone 12 Pro Max. Apple launched its iPhone 12 series of smartphones in October.
LG, which also suppliers the camera module for the iPhone SE, posted particularly big numbers in Q4, up 36% on the previous year.
The news follows multiple reports of an excellent iPhone 12 launch for Apple, with the iPhone 12 reportedly accounting for 56% of all iPhone 12 sales in Q1, raising the average retail price of the phone to a 10-year-high of $873.
The iPhone 12 mini has enjoyed less success, only accounting for around 6% of iPhone sales. Accordingly, Apple has asked its manufacturing partners to reduce the production of the device, and instead turn to making more iPhone 12 Pro models, as Apple remains unable to keep up with demand for the phone.