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LG Announces Mobile Profit of 1.2 Cents Per Device


News by admin on Wednesday July 29, 2015.

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LG's mobile division is riding a rollercoaster at the moment. The huge success of the G3 flagship last year elevated the company to the upper echelons of the market, but sales of the replacement G4 (a fantastic smartphone regardless) have tempered expectations and LG may lose money this year and not meet sales estimates. That said, the company is still in contention for top five smartphone manufacturers globally and thanks to its screen tech has a cash cow beyond its own hardware.

The Korean giant has been subject of a Google buyout rumor recently, a rumor that was denied by both parties but only added more to the feeling that the company's smartphone division is at a crossroad. Indeed, the company posted its financials for the last quarter and while the smartphone business made money, it wasn't a blazing success and certainly did not suggest a company on the up.

LG made $172,000 for its mobile business, which really is a tiny number that means LG's profit margin was just 1.2 cents per device on 14.1 million units sold through the period. It is also worth mentioning that sales declined 3% compared to the same frame last year.

 
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