LG has been making good flagship smartphones for the past couple of years but they don’t appear to be capturing customers’ attention, or their wallets, at least not as much as LG would have hoped. The LG G6 was launched earlier this year and while it’s a bona fide flagship smartphone, it hasn’t done much to turn things around for LG’s mobile division.
LG Electronics posted its earnings result for the second quarter of this year today. The company itself says that this was a “challenging” quarter for the mobile division which wasn’t able to turn a profit. LG’s mobile division posted a $117.27 million operating loss in Q2 2017.
LG blames high component prices for the loss and also mentions that the sales of its flagship smartphone have been lower than expected which is why it hasn’t been able to turn a profit.
While LG smartphones appear to be gaining traction in the United States, customers seem to focus their attention on more affordable options from the company.
LG saw its smartphone sales in the United States increase 13 percent year over year but the company says that this is due to the robust performance of its “mass-tier lineup,” which basically means the low-end and mid-range handsets are selling well, the flagships not so much.
LG will be hoping to turn things around with the V30, its second flagship for the year, that’s due this September.
Filed in . Read more about LG, LG G6 and LG V30. Source: lgnewsroom