LG’s Q4 earning report expected to reveal nearly $30 million in losses
It’s time to start hearing about Q4 financial numbers from manufacturers. LG didn’t do great in 2016 with the LG G5 and LG V20. As a result, they’re expecting a pretty big operating loss. They have already announced preliminary earnings results. The numbers don’t look good.
First, the good news. Revenue is estimated to be higher than the previous quarter and year-over-year. Sales for Q4 were $12.3 Billion, which is an increase from $11 Billion in Q3 and just barely more than the $12.2 Billion in 2015. Now, for the bad. The operating loss is estimated at $29.5 Million. LG’s mobile division is clearly not doing well. Most of the profits are coming from appliances.
Can LG turn it around in 2017? Samsung has some bad publicity on their hands from the Note 7 fiasco. If smartphone owners are looking for a new brand, LG could cash in on some new customers.
[via LG]