Home / Uncategorized / LG Q2 2017 financial report: LG disappointed by sales of flagship G6 smartphone

LG Q2 2017 financial report: LG disappointed by sales of flagship G6 smartphone

LG Electronics have published the financial report for the second quarter of this year. The net revenue of the company is $12.8 billion which is 4% up from the last year.

LG Home Appliance division has brought in $0.41 billion of operating income on a revenue of $4.65 billion.

The strong demand for LG�s OLED TVs and Super UHD TVs have helped the Home Entertainment division in getting solid operating profit of $0.30 billion.

The Vehicle Components division sales rose by 38% year over year to $0.78 billion due to the success of the Chevrolet Bolt in the US.

Finally, LG Mobile division have resulted in an operating loss of $0.12 billion on a revenue of $2.39 billion.

LG’s mobile unit noted a strong 10% increase in sales in first quarter of 2017 but the company have recorded a loss of $117 million in its second quarter earnings. LG blames LG G6 for this decline. LG G6 didn�t do as expected since Samsung Galaxy S8 stood as strong competitor to LG G6. Read the LG G6 vs Samsung Galaxy S8 comparison article in which I have given the detailed comparison.

On the other hand, the company have seen increase in sales of budget devices in the North American market (13% increase in sales). LG believes in a new high-end device (LG V30) and the recently introduced Q-series for profit bounce-up in the second half of this year.

About Tanveer

Check Also

Seven Alternatives to the Official Facebook Application

Seven Alternatives to the Official Facebook Application   If we asked Android users to which application they have more mania, probably Facebook would take the cake. In the beginning, it was very slow and heavy, and after many years of tireless effort of its engineers, now it can be said that it is simply heavy. …

Leave a Reply

Your email address will not be published. Required fields are marked *

  • Partner links

  • UA-105717619-1