LG Mobile had its worst quarterly loss ever in Q3
LG’s mobile division has shared its financial results for Q3 2016 and they don’t look good. In fact, Q3 marks LG Mobile’s worst ever quarterly loss and the sixth straight quarterly loss. This quarter can be blamed on the LG G5. The device was sandwiched between the launch of the Samsung Galaxy S7 and HTC 10. We liked it in our review and liked it even more in our re-review, but that wasn’t enough.
LG Mobile sales dropped 23% from the same time last year. The record loss comes in at $389 million on $2.3 billion in revenue. There is a small bit of good news to go with the dismal numbers. LG shipped over 13 million devices in Q3 and grew shipments by 14% in North America. The bad news is LG doesn’t expect Q4 to be any better, even with the launch of the LG V20. It’s tough out there for Android manufactuers not named Samsung.
[via LG]