LG mobile division keeps losing money in Q3 2017

LG mobile division keeps losing money in Q3 2017

LG Electronics just realeased its Q3 2017 financial results. Тhe company posted a total revenue of USD 13.44 billion, which is a 15% increase from Q3 2016. However, the operating income almost doubled to USD 455.7 million.

LG mobile business posted an operating loss, and it is the worst operating result of all four LG divisions.
It posted revenue of USD 2.48 billion. The revenue mainly comes from the sales of the G6 flagship, LG Q6 and the LG K-series. Fortunately, it is not as bad as Q3 2016, the loss was 13% worse. LG says it will focus on the LG V30 in the next quarter to increase sales of both the cameraphone and the mid-tier LG Q6.

Thanks to the Home Appliance & Air Solution divisions, LG keeps going strong. Sadly, the mobile business is still unable to gain profits.

SOURCE