LG Electronics is a very well known company in the world of Home Appliances, Smartphones and other Electronics. It is also one of the leading home appliances seller and now has increased it’s Q3 profit by 82% as compared to same quarter of the previous year.
The increased profit is mainly because of Televisions and other home appliances and there’s negligible part of the Smartphone Sales. That means, LG is able to increase the profit just by their consumer electronics and as we know LG’s latest Smartphones, G6 and Q6 didn’t do well in the market, hence no profit share from this sector.
According to the preliminary earnings, the company was able to generate an operating profit of 516.1 billion won (around $454 million), while the revenue grew by 15.2 percent and reached 15.23 trillion won (around $13.4 billion).
The mobile division however didn’t do well and posted an approximate loss of 200 billion won ($174 million). Which means that neither LG G6 nor Q6 did well on their part.
LG G6 was their 2017’s Flagship in which they went with Full Vision display rather than modular design but the Samsung Galaxy S8, clearly didn’t let it stand in the competition. The LG Q6 was a budget device lacking a fingerprint scanner but with a Full Vision display which again didn’t do any good to the company. Now, the expectations of the company are with LG V30 which is a Phablet kind of device and getting a heated competition with the Galaxy Note 8 which is already selling like hot cakes.
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Via: Android Authority
