LG

The G5 may be slumping in sales, but LG is about to announce its best quarterly results in two years

The G5 may be slumping in sales, but LG is about to announce its best quarterly results in two years
LG's playful G5 is, unfortunately, hardly as successful as the manufacturer hoped it to be — the company's expectations for shipped G5 units for the year has rapidly dropped, from the initial 12 million to the depressing 5.5 million. According to analysts, the company's Mobile Communications branch is about to report a loss of between $110 and $112 million for this year's second quarter.

Weep not for LG, however, as the company seems to be doing quite well in everything else, not smartphone-related. The company expects its overall quarterly report to be very encouraging, with guesses from both LG and independent analysts saying that the company is about to report a two-year profit high. LG didn't disclose any details, as it is about to publish its quarterly report later this month, but analysts put the company's profit for the past quarter somewhere between $510 million and $522 million (₩585 – ₩599 billion). LG's last quarterly high, back in Q2 of 2014, was about $530 million (₩610 billion).

No, this is not thanks to the G5 nor its “Friends” or Playground modules. According to analysts, LG's home appliances and television sets keep the company's profits up. It's still the world's second biggest TV maker by share (Samsung being first), which is a good thing to be in the wake of the UEFA Championship cup. Additionally air condition and premium-grade house appliance items were also highly sought after this past quarter.

The mobile branch by itself will probably be reporting a fifth consecutive losing quarter, with hopes for Q3 being low to non-existent. Could a possible successor to the LG V10 turn the ship around?


source: Reuters

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8 Comments

1. PhoneCritic

Posts: 1354; Member since: Oct 05, 2011

Have to say that both LG and Samsung are dominating the home appliance arena. I just purchased a new home and while shopping for an appliance package it is so hard to avoid these two brands. it seems not many people are interested in the GEs, Kitchen Aid, Westing house whirlpool etc.. but mostly Samsung's and LG's appliances ( I decided to go with a domestic brand Frigidaire- Sill has components built over sea). So, if LG mobile division is not doing well they have nothing to really worry about as they really are diversified. this is doubly true of Samsung. Best to LG and good job on the appliance front.

3. GoTstan

Posts: 386; Member since: Jul 25, 2015

Every LG product I've owned I have only good things to speak of them. LG is a solid brand. The g5 was a bust tho

8. jeroome86

Posts: 2314; Member since: Apr 12, 2012

Seen some articles of Samsung washing machines exploding. I was close to buying one. Change my mind. Love my LG 55 hdtv. Think LG should make a V10 like the last one with better specs. My friend loves the buttons on the back and was mad about the G5 design.

2. Barney_stinson

Posts: 672; Member since: May 30, 2016

Xiaomi is catching up!!

7. ibend

Posts: 6747; Member since: Sep 30, 2014

yeah right, they catching up for home appliance and electronic stuff they already make air and water purifier, smart TV, action cam, smart bulb, and even smart rice cooker

4. Shubham1221

Posts: 153; Member since: Jul 29, 2015

Lg is great in home appliances!!!!I had every appliance of LG in my house-TV,washing machine,refrigerator etc.Also the quality is excellent.I had no issues with LG appliances so far!!!!

5. ECPirate37

Posts: 319; Member since: Jul 14, 2011

I am really looking forward to a V10 two. Or whatever they call it. I have the V10, and I LOVE it. I hope whatever they decide to do improves upon all the awesomeness I already have. If not, I'll keep what I got. The 2nd screen is clutch.

6. Furbal unregistered

Don't screw up the v10 LG. Keep your roots. We don't need unibody if it is built right.

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