LG disappointed by G6 Sales in Q2 Earnings Report

LG disappointed by G6 Sales in Q2 Earnings Report

According to GSMArena, LG has announced its second-quarter results for 2017. The company said the sales is weaker than expected and mobile division suffered an operating loss of millions.

LG’s mobile business had revenues of $2.39 billion with an operating loss of $117.27 million. This is on its ninth consecutive quarterly loss. The company states this poor performance comes from its weak sales of its flagship mobile device G6 and increase in component costs. LG said its mid-range phones help resurrect its smartphone business, it increased 13% in sales in the US.

Although mobile division is not performing well, the solid sales of its washing machines, refrigerators and OLED television business brought in profits. This helps LG gained a 13.1% increase in sales, much better than the other three divisions of LG.

SOURCE VIA