LG today said it will introduce two high-end smartphones during 2016 to better compete with its rivals. The company believes the new flagship models and "a more cost-competitive value chain" will help it recoup profits and marketshare throughout the year. LG did not provide any details about these new phones, but it is highly likely the flagships will improve upon LG's G series and V series devices. LG reported its fourth quarter earnings today and said it generated a net profit of $301 million, a jump of 27% year-over-year that it attributes mostly to strong performance of its home appliance division. The company's handset division recorded revenue of $3.26 billion on shipments of 15.3 million phones. LG said it shipped 59.7 million phones in 2015 and saw improved sales in North America. LG has scheduled a press conference during the annual Mobile World Congress trade show next month. It is possible the company will announce new handsets at that time.


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