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LG Quarterly Estimated Slashed Amid Slow G4 Sales

News by Luke Jones on Tuesday June 23, 2015.

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After an excellent 2014, LG positioned itself as amongst the leading smartphone companies in the world and expected 2015 to follow a similar path. However, with other brands raising their game it seems as though LG's growth will be held back this year, at least that's according to analysts who have lowered expectations.

Daishin Securities, a South Korean based analyst firm, says that LG will make $50.7 million from its mobile division this quarter, down significantly from its earlier $93.7 million estimate. Korea Investment and Securities goes further with the expectation that LG will make $61 million instead of the previous $104 million the firm expected.

The reason for this drop off is because of the slow sales of the newly launched G4 flagship. The (admittedly fantastic) smartphone has sold 2.5 million units, which is lower than LG expected and it now seems unlikely that the handset will sell the 10-12 million units the company expected it to through 2015.

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Luke Jones
Luke Jones is the Managing Editor at MobileBurn.com and is the person you need to speak to about the content on the site. Luke studied creative writing at degree level before carving out a reputation as a freelance tech writer. He settled here at MobileBurn, where he reviews devices and contributes to the news, as well as overseeing the site's content and direction.

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