Android Police

Articles Tagged:

LG profits

97

LG's mobile unit records possible worst quarterly loss ever at nearly $400 million

LG's mobile unit records possible worst quarterly loss ever at nearly $400 million

LG just released the company's Q3 2016 financial results, and while at large LG is still profitable, its mobile unit is turning into a truly massive drag on the greater business. I've dug through about five years of LG's quarterly results, and I can't find a single one with a greater operating loss than the staggering $389.4 million the company reported this morning. This time last year, the mobile division was losing money, but not nearly on this scale. For reference, even at its peak bleeding during its ownership by Google, Motorola was only almost managing to burn this much money per quarter.

Read More
94

As Samsung announces big profits, LG's mobile unit loses $132 million in Q2 due to slow G5 sales

As Samsung announces big profits, LG's mobile unit loses $132 million in Q2 due to slow G5 sales

LG's mobile business has regularly been on the knife's edge of profitability over the years, and after last year's lackluster G4, the company likely hoped the more adventurous G5 would help pay the smartphone arm's bills and, perhaps, even deliver a profit to the unit. Unfortunately, according to LG's Q2 2016 fiscal results released today, that effort has not paid off.

LG Mobile reported an operating loss of $132 million for the second quarter, the first full fiscal quarter the G5 was on sale in major markets (it launched April 1st here in the US). This is especially dismal given that it marks only a very modest improvement over LG's Q1 results for its mobile unit, which saw losses of around $168 million.

Read More
Mastodon