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LG's Latest Financial Results Reveal LG G6 Sales Lower Than Expected

27 Juillet 2017

While LG's operating income rose by 14 percent year-on-year to outpace a four percent annual growth in revenue, its overall numbers were curtailed by a mobile business that posted a KRW 132.4 billion ($117.27 million) loss for the quarter.

Even though the LG G6 was expected to increase the firm's total smartphone sales, LG's latest Android-powered flagship seemingly lost what little momentum it gained this spring as the Korean phone maker didn't even disclose its exact sales figures.

Sales of the tech giant's flagship G6 is said to have fallen short of getting LG's sluggish mobile business back on track.

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The home appliance unit saw a 12% hike from Q2 2016, and the vehicle components division, which supplies telematics components to the Chevrolet Bolt, saw a 38% increase in sales.

The company saw an operating profit of KRW 208 billion, up 15.5 percent from KRW 180.1 billion in the year-earlier quarter. The North American market remained strong, contributing a 13 percent increase in sales compared to the same period a year ago thanks to strong performance of the company's mass-tier lineup. Service revenue grew by 4.2 percent year-on-year to KRW 2.3 trillion, while handset revenue jumped 5.8 percent to KRW 676.1 billion. The introduction of the new Q series and the rollout of a new high-end device in the weeks ahead are expected to bolster the company's performance in the second half of 2017.

LG's Latest Financial Results Reveal LG G6 Sales Lower Than Expected