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LG Turns Profit in Q3 Amid Downturn


News by Ang Torres on Thursday October 29, 2015.

lg news · industry news · ang torres

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G4
G4

LG is proving that you simply cannot stand still in the smartphone market as the company's third quarter financials reveal worrying signs for the future. LG propelled itself into the big leagues with the fantastic G3 flagship, and the company looked on the cusp of something massive. However, the G4 was too incremental, safe where the G3 was bold, and the result has been stuttering financials.

The Korean giant announced that is sold 14.9 million smartphones in the third quarter, which was actually a 6% increase over the second quarter. However, revenue is down 9% from the last quarter and a down a significant 21% from the same period in 2014, when the G3 was originally wowing us.

LG is still making money, $110 million overall in profit, but that is a substantial 38% slide from the same time last year. So, the company is moving in the wrong direction, by LG may be able to turn things around with the fantastic V10 flagship phablet now being released. In some ways, the bold, unique, and somewhat bonkers V10 is what the G4 should have been, while the Nexus 5X will be another source of income for the company this Holiday Season.

 
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About the author

Ang Torres
Ang is currently studying a degree in computer sciences, but makes time for her first love, tech. She has followed mobile trends since first jumping onto the feature phone market in 2004 and is now an unabashed Samsung fangirl.

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