LG’s mobile division reports a loss for the 5th straight quarter
It’s no secret that LG’s mobile division has been struggling for the last couple of years, while it attempts to combat the likes of Samsung for the top spot in mobile sales. The company’s flagship, the LG G5, has not been very popular after turning heads with its take on a modular design. Unfortunately, the device hasn’t lived up to expectations and as a result, LG reportedly lost more than $84 billion in Q2 of 2016.
LG sold “only” 2.2 million units while it combated against Samsung’s Galaxy S7 and Galaxy S7 Edge, as well as smaller players in the market such as Huawei and HTC. With these results, this marks the 5th straight quarter that LG’s mobile division has been chalked up to a loss.
LG is large enough of a company, with its hand in many different outlets so the company is still projecting to profit at a two-year high, but it may be time for something radical to change within LG’s mobile division. The company has already started making changes by changing up the executive landscape, as well as creating a “program management office” to help right the ship that seems to be sinking rapidly.
Those changes may be too little too late since LG has already dropped to 7th in global smartphone sales with just 4% of the market share. We’ll have to see if LG can shake up the competition and the market in the coming months while it works on its next flagship smartphone.
[via Reuters]