Despite innovative approaches the LG G5 did not bring the hoped-for success. This emerges from the latest quarterly report. Accordingly, the flagship smartphone achieved only by grown sales and the mobile segment of the Group was unable to keep the red.
In the quarter April-June recorded LG Mobile reportedly an operating loss of the equivalent of 74 million euros. According to analysts, especially the LG G5 is responsible. With estimated sales of 2.2 million units, the flagship smartphone fell short of expectations of the Group. Especially when compared with the competition from their own country, including Samsung and the Galaxy S7, it is therefore hardly surprising that LG recently exchanged the complete management level of the mobile division to force a change of course.
Meanwhile, the LG is sold off in the market G5, in the meantime dropped the price of 699 Euro started with a MSRP smartphones effectively 360 euros - and that only a few months after the performance. Such a fall in prices, even for Android devices, which never come generally to the price stability of an iPhone, remarkable. Here is our review of the LG G5 that the smartphone is not so bad in itself.
Total consolidated thanks to TV sales in the plus
Fortunately for LG, the TV division got off to a successful quarter and was able to improve the balance sheet of the Group. Due to strong sales of televisions and home entertainment devices LG has apparently won around 460 million euros as profit. This is the highest profit in two years. However, should this seasonal demand for televisions, as a result of the European Championship finished today, experience has shown subside during the summer months. Thus, LG is well advised other divisions, including bringing the mobile device, into shape. We are curious whether the restructuring of LG Mobile sooner or later will bear fruit.
Source: Reuters via TabTech
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