There hasn’t been anything fundamentally wrong with the smartphones that LG has released over the past few years. The flagships have been decent enough, with specs that can match the best of them. However, the smartphones have failed to really capture the market’s interest which is why the company’s smartphone business has been bleeding money. Market analysts expect this to continue as they see a bleak future for LG’s smartphone business.
Prior to the second quarter of this year, LG’s smartphone business posted a loss for seven straight quarters. The streak didn’t end. It posted an operating loss of $117 million in Q2 2017. However, when the company launched the G6 earlier this year, it was confident that the new flagship would help turn things around.
It didn’t. The LG G6 wasn’t a bad smartphone by any means. It just wasn’t able to capture the market’s interest so it wasn’t able to do its bit in order to turn around the company’s fortunes.
Analysts expect the company to cut its losses further this year but don’t expect that LG’s smartphone division will be able to turn a profit due to low brand value and a weaker sales network.
LG is due to launch its second flagship smartphone for the year, the LG V30, later this month. It will certainly be hoping that the V30 does its part in turning around its fortunes.
Filed in . Read more about LG. Source: koreaherald