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Wireless

LG posts Q2 mobile loss as G5 fails to sell

Thursday 28 July 2016 | 07:42 CET | News
LG Electronics reported profits under pressure in the second quarter, led by losses at its mobile division as its latest flagship smartphone failed to sell enough. Revenues were up 0.6 percent year-on-year to KRW 14.00 trillion, as growth in its other divisions helped offset the weak performance in mobile. Operating profit dropped to KRW 584.6 billon from KRW 505.2 billion a year ago, while lower financial and one-time costs helped net profit rise to KRW 268.5 billion from KRW 198.1 billion. Mobile revenues fell 6 percent year-on-year to KRW 3.33 trillion, as smartphone shipments dropped 1

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Categories: Mobile & Wireless
Companies: LG
Countries: World
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