Mobile revenues fell 21 percent year-on-year and 13 percent from the first quarter to KRW 2.70 trillion. LG said the North American market remained strong, contributing a 13 percent increase in sales compared to the same period last year thanks to strong performance of the company’s mass-tier lineup. However, weak sales of premium models like the G6 led to total smartphone shipments falling 4 percent year-on-year and 10 percent from Q1 to 13.3 million units.
LG said the introduction of the new Q series and the roll-out of a new high-end device in the weeks ahead are expected to bolster the company’s performance in the second half of 2017.
LG Electronics' group results were in line with its preliminary report, with quarterly sales up nearly 4 percent year-on-year to KRW 14.55 trillion, led by the home appliance unit, which reported a 12 percent sales increase. Apart from mobile, all the other main divisions had higher sales on an annual basis. Operating profit increased 13.6 percent to KRW 664.1 billion, and net profit nearly doubled, to KRW 515 billion from KRW 269 billion a year ago.
For Q3, the company said it expects a high single-digit sales increase and higher operating profit year-on-year, supported by a focus on premium TVs and appliances and the expansion in the automotive market.
