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The struggles of LG have been well documented following the release of its 2016 flagship, the LG G5. The company’s mobile division has failed to hit projections of 3-3.5 million units sold in Q2, with a report stating that LG will only sell 2.5 million units in Q2. With these low numbers, the projections for the LG G5 have seemingly dropped for the year, from 12 million units sold, to just 5.5 million units.
This just marks another setback for the company after it released its quarterly results last week. LG’s mobile division has posted a loss in the last 5 quarters, while losing $84 billion in the last quarter alone. This has sparked the company’s executives to begin shaking things up with the addition of a “program management office” to help right the wrongs that the division has been dealing with for some time.
Although LG does not have the advertising power of a company like Samsung, the company is still plummeting rapidly. LG has moved from 4th to 7th in global smartphone sales with just 4% of the market, moving below the likes of Oppo and Xiaomi. LG will need a big shake up in terms of releasing a flagship device that just knocks the socks off of everyone, but the forecast for the future looks bleak.
[via DigiTimes]
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