LG Electronics released its fourth quarter and full-year 2017 financial results this morning, and while the news is mostly very good for the company, its mobile division continues to suffer losses.
LG took in $55.4 billion in revenue for 2017, an increase of 10.9% over 2016 and the highest ever for the company. Profitability increased by 85% over last year at $2.23 billion. For the fourth quarter alone, LG saw a 15% growth over Q4 2016 revenues with $15.3 billion, and a profit of $330.9 million, which we reported when the company released its preliminary results earlier this month. Read More
The phrase 'buy one get one free' can be music to the ears of consumers but doesn't often apply to expensive devices like smartphones. For that reason, this deal from Verizon is looking pretty sweet. Getting in on the Valentine's Day spirit early, the carrier will give you 2 brand new phones if you trade in your current one. That's a phone for you, and one for your other half, perhaps. Read More
Despite the G6 and V30 being fairly good phones, LG's mobile division has continued to report losses year after year. Last week at CES, LG announced that it would no longer release smartphones on a yearly schedule, instead opting to launch new models "when it is needed." According to a new report from The Investor, LG CEO and Vice Chairman Jo Seong-jin told the company to start over on the upcoming G7 flagship. Read More
If you live in the United States and walk into a Verizon store, you have essentially four options when it comes to choosing a premium smartphone brand: Apple, Samsung, LG, and Google. Yesterday, we learned that continuing to expect LG will be one of these options probably isn't the best bet.
While there may yet be a premium LG phone that launches on Verizon, the Korean conglomerate looks poised to join Motorola as one of Verizon's when-it's-convenient handset partners, and is quite possibly on its way to the Verizon graveyard with the likes of HTC, Sony, and BlackBerry.
The same can generally be said of AT&T, T-Mobile, and Sprint. Read More
For years, LG has released flagship smartphones in tandem with Samsung, but its devices have consistently played second fiddle. Now, LG's Vice Chairman Cho Sung-jin has confirmed a significant strategy shift at the company. LG will no longer launch phones in the G and V series on a set yearly schedule. Instead, it'll launch phones "when it is needed." Read More
According to Google, the company has been selling Home speakers at a rate of more than one per second since the Home Mini was released late last year. That's an incredible statistic, and it doesn't even take into account Assistant speakers from third-parties that have been available since last fall. Last year, we learned about devices from Mobvoi, Panasonic, Sony, and Anker's Zolo sub-brand. They were clearly the tip of the iceberg.
CES 2018 in Las Vegas has been awash with new Assistant products as Google takes the fight to Amazon's Alexa. Even the monorail has been taken over by Assistant branding. Read More
According to an article yesterday published by Yonhap News Agency, LG is reportedly releasing its LG Pay service in the US by June. The report also claims that LG's upcoming G7 and V40 handsets will accompany the launch. For the unfamiliar, LG Pay service will enable users to make payments with supported LG devices on normal credit card readers, similar to the MST used by Samsung. Read More
LG quietly let it be known today that they will emerge from the fourth quarter of 2017 with a $343.2 million profit and that they expect a yearly profit increase of 84.5% over 2016. Read More
Last year, LG made it clear that it intended to enter the mobile payments space, and in June it jumped in, releasing the service on its recent G6. At the time, it was called LG Pay. But just today, LG released—perhaps accidentally—a confusing new LG Wallet app to the Play store, and the app listing mentions the G7.
This app seems to have something of a split personality, with the listing and in-app header being named "LG Wallet," but with the app icon, boot animation, and a FAB in screenshots titled "LG Pay." Presumably, the two names are being used by LG interchangeably. Read More
LG's been using the Gx naming scheme for a couple of years now, starting with the Optimus G in 2012 and continuing with the G2 in 2013, the G3 in 2014, and so on. The latest G-series phone, the G6, was launched in early 2017, meaning that it's due for a refresh. But according to a company official, LG won't be using that branding for the G6's successor, instead opting for something new. Read More