iPhone 12 Pro supplier LG saw increased revenue in 2020

Another iPhone supplier, LG Innotek, just reported an increased profit in 2020, thanks to iPhone 12 Pro models’ huge sales.

According to iMore, iPhone 12 Pro resulted in increased revenue of around 43 percent in 2020 for LG Innotek. Its the supplier of the latest smartphone series from Apple.

The Elec recently revealed the sales report for the current line-up.

iPhone 12 Pro versions witnessing great reception

Speaking of the latest models’ popularity, it looks like buyers are interested in upgrading their old phones. On Tuesday, LG Innotek announced nearly 680 billion won in its operating income in the last year. And this is 43 percent higher than the figures it had in 2019.

Here’s an excerpt of the report from The Elec:

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 period a year ago. Sales in the quarter were 9.54 trillion won, an increase 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.

This news of a significant revenue comes after a series of extremely positive reports over the last few months. After the announcement of all four models, including the iPhone 12 Pro and Pro Max, customers’ reactions have been impressive. Although the regular, non-pro iPhone 12 remains the best-selling variant among its other three siblings. It accounts for more than 56 percent of all the sales under the latest line-up, in Q1 2021. As a result, this particular version’s average retail price reached a ten-year high of $873.

Upcoming Apple products in 2021

Meanwhile, the California tech giant seems to be preparing for its next big plan this year. And that’s simple to decode, without any guesses. Firstly, in the coming months, all tech enthusiasts, who are waiting for new products, will see a big reveal in the AirTags. AirPods Studio will also make their way, as expected. They did see a delay last year, and in place of them, Apple announced the AirPods Max over-ear headphones.

However, the year’s highlight, just like 2020’s iPhone 12 Pro and Pro Max, will be the highly-anticipated iPhone 13. The next series is already rumored to bring a ton of design changes. But unless there’s an official confirmation, nothing can’t be said with certainty. Strong speculations say that it will have a 120Hz refresh rate, a port less design, and a notch-less front display. The last two rumors are quite far-fetched as of now since Apple won’t likely do that until 2023, most probably.

 

Image courtesy of Apple/YouTube Screenshot

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