LG Records $68 Million Loss in Mobile Division
John Williamson / 4 years ago
LG’s G3 and G4 handsets have received widespread positive reviews and characterized by a remarkable image sensor. Additionally, the G4’s superb price, beautiful display and optional leather back make it a fantastic choice around the £350 mark. Sadly, LG’s superb handset range hasn’t resulted in a profitable venture and reported a huge loss of $68 million.
This is dreadful when you consider sales have increased by 12% in North America, although worldwide figures dropped 21% year-over-year. LG‘s report demonstrates the difficulties many manufacturers face in the smartphone market. While the hardware is excellent, LG’s software can be slightly buggy but things have impressed in the last few months. Additionally, the LG Flex 2 hasn’t made a major impact and ended up being a very niche device.
Perhaps, the Qualcomm Snapdragon 810 SoC deterred some people from purchasing as the chip’s overheating issues are well documented. Also, the European version only contains 2GB of RAM, which lingers behind many other handsets in 2015. The most likely reason is the emergence of ultra-cheap but feature-rich smartphones from Chinese companies like Hauwei.
As a result, it’s such a competitive sector and difficult to attain large sales. LG’s financial position is becoming similar to HTC which is a shame.
Do you currently own an LG handset?