LG’s quarterly earnings report reveals that the company saw 54 percent year-on-year growth in smartphone and tablet sales, thanks largely to the Google-branded Nexus 5 and the company’s own G2 handsets. However, while its mobile division revenue for the full year was up 29 percent to $11.85 billion, it still made a small loss.

LG blames its $40M Q4 loss on a high marketing spend on the G2 and G Flex. It says that it will be launching a new high-end model, the G Pro, at Mobile World Congress in February.

The company as a whole made a profit of $220M thanks to strong HDTV sales, the TV division more than doubling its operating profit across the year.

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