At the mobile division, revenues were up 8 percent year-on-year and 4 percent higher versus Q2 at KRW 2.81 trillion, driven by sales of the flagship G6 smartphone as well as mass-tier models such as the Q and K series. The operating loss narrowed 13 percent from a year ago to KRW 375.3 billion, but the margin deteriorated to a negative 13.4 percent from minus 4.9 percent in Q2 due to higher raw material costs for components such as memory and the one-time licensing settlement with Nokia.
Smartphone shipments of 13.7 million units were up 1 percent from a year ago and 3 percent higher versus Q2. LG said shipments were 44 percent higher than the second quarter in its domestic market and 9 percent higher in North America. LG said the mobile unit will focus on driving increased sales of the well-reviewed V30 and improving cost competitiveness in the final quarter of the year.
For the group as a whole, LG said it expects fourth-quarter sales up over 10 percent. This will be supported by expected continued quarterly growth in the global TV market and strong demand for premium TV products. Group profitability will decline in Q4 on a sequential basis due to seasonal factors but should remain at a good level, the company said.
