LG’s phones just ain’t getting any love
LG’s mobile division is yet in another hole as the company’s fourth quarter financial results have been made public today. The mobile division may have made $2.77 billion in revenues, but it still took a hit of around $192.33 million in losses. While that’s bad, it’s better than Q3 2017’s $331.37 million loss. Q4 2017’s better performance is attributed to “strong sales of the LG V30 and other premium smartphones and an improved business structure.”
LG’s pegged three products as its main drivers for the mobile division: the LG Q6, the V30 and the recently announced X4. Because of the problems in revenue, LG’s now only going to release a major flagship when it thinks its ready and not follow the market’s annual flagship schedule. That explains the rumors that the G7 is going back to the drawing board for a major redesign and won’t make an appearance in MWC next month.
As for the rest of LG, they’re actually doing pretty good, as the company took in $55.4 billion in revenue for 2017, which is 10.6% over 2016 and the highest ever for the company. Q4 2017 profits have been especially good, with a 15% growth over Q4 2016 revenues with $15.3 billion, and a profit of $330.9 million. LG as a whole is doing just great – we just hope that the Mobile Division can get its act together.