LG to sustain its first quarterly operating loss since 2010, mobile and appliance sales went below expectations
2016 wasn't a good year for LG's mobile business in particular, as its premium product, the LG G5, sold below expectations to the tune of high marketing spending. Sales of mid and low-range LG phones didn't cut it, either, and the LG V20, the company's second-half major release, is too new on the market to make a significant dent.
LG's next major smartphone offering will be the LG G6, which the company plans to introduce at the MWC conference in Barcelona this February. As the LG G5's innovative modular concept didn't catch on with consumers, the smartphone is designed with usability and aesthetics in mind. It's also said to be cheaper to manufacture than the LG G5, which will improve sales margins for the company and lead to better profits.