LG sold 13.9 million smartphones in Q2 2016, confirms new V series phone (V20?)

LG today announced its financial results for the second quarter of 2016 (April - June). As expected, the company is doing really well overall, posting an operating income (profit) of $503.1 million - that's almost 140% higher than the operating income for the same quarter last year. LG is thankful that its Home Appliance & Air Solution and Home Entertainment divisions have both reported record operating profits for Q2 2016.

When it comes to smartphones, though, things aren't that great. LG Mobile Communications sold 13.9 million smartphones - a 3% increase compared to the previous quarter - but it posted an operating loss of $132.1 million, following "increased marketing expenditures and somewhat slow initial sales of G5 smartphone." Still, LG believes that things will improve going forward, and here comes the interesting part: the company confirmed that a "new V series" smartphone will be launched sometime this quarter.

Not long ago, we heard that a successor to the LG V10 should be released in September, and it looks like this will happen indeed. The new handset may be called LG V20 or LG V11, and could be launched by Verizon at some point. Unfortunately, right now, there are no details on the features of this upcoming device, but we expect it to be more or less similar to the V10 (pictured above), thus sporting a large Quad HD display, in addition to a secondary ticker screen. Like its predecessor, the LG V20 / V11 might be built around a metal frame, offering protection against drops.