LG’s mobile division is getting its third consecutive losing quarter, but the LG G5 could change that
LG today reported preliminary Q1 earnings. There’s good news and bad news. Which do you want first?
The bad
- The mobile division is still underperforming. LG is expected to report their 3rd straight quarter of losses in that area.
- Revenue is down 4.5% year-over-year.
The Good
- Profit is up 66% year-on-year.
- It’s their best quarter since Q2 2014
- The LG G5 could help the mobile division start pulling its weight, as the TV and Appliances divisions are currently pulling in the most dough.
LG’s mobile division thankfully isn’t performing so badly that we have to worry about them exiting the scene (and even if it were, they have enough diversification to make up for it), but we imagine the company won’t tolerate a downward trend too much longer without some changes being called for. The full numbers are expected to be here later this month, so stay tuned.
[via Reuters]