LG's profit dips on phone division loss, hope for rebound now riding on the V20

LG's profit dips on phone division loss, hope for rebound now riding on the V20
LG just issued its Q3 earnings, and there is a slight 3.7% dip in operating profit, thanks to lackluster performance of its smartphones in the market.
In the July-September quarter LG made about $250.9 million on the whole, which is half of what it made in Q2. The smartphone business has been operating at a loss for five consecutive quarters before that, and Q3 was no exception, due to "lower sales of premium devices and expenses related to business structure improvement activities."

"Priorities for the final quarter of the year will include increasing sales of the new LG V20 smartphone and mass-tier K and X series, and finalizing business structural improvements in the mobile division to be better prepared for the challenges ahead," according to the press release. Thus, there is a lot riding on the eventual market success of the V20 monster of a flagship now, so that the phone division can join the home appliance and TV business of LG in being finally profitable.

source: Korea Times

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7 Comments

1. Martin_Cooper

Posts: 1774; Member since: Jul 30, 2013

1. G2 an amazing phone with amazing battery with amazing small bezels. Futuristic as hell. 2. G3 small improvement but worse battery, bootloop issues start appearing 3. G4 small improvement with too many bootloop issues making it a big NO 5. G5 ugly as f**k, weird stupid modular design. Well done LG.

2. truthwins unregistered

totally agree G2 was the very good device

6. nedimko_wot

Posts: 115; Member since: Oct 01, 2016

well if lg does not make big improvements next year than we can say that thier mobile divison is dead and out off ideas just like htc

3. trojan_horse

Posts: 5868; Member since: May 06, 2016

Hoping to see the V20 yield the sales success LG deserves for that monster of a flagship!

4. rsiders

Posts: 1935; Member since: Nov 17, 2011

The V20 is a worthy device. The main knock against it is the battery life(which can be overcome easily via second battery) and waterproofing which in my opinion 90% of users don't absolutely need. The mainstream tech media will say it's a nice device overloaded with (useful, working) features that the average user won't need. This phone is not targeted at the average user even though it's still a great phone regardless if you use hifi audio recording, manual controls, and a nice set of headphones to go with the QuadDAC or not.

5. NicAngel unregistered

With that ugly design (especially the back), I don't think LG is gonna sell a lot of V20...I don't think so.

7. DONUT

Posts: 436; Member since: Jun 27, 2013

But yet LG isnt releasing this in europe. Their release plans are so messed up, it took forever to arrive and they left out a major continent. How will leaving out a major continent help their bottom line?

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