LG’s Q3 earnings report shows signs of recovery for mobile division

Michail, 30 October 2020

Earlier today, LG posted its earnings report for the July-September period and results from the mobile division are looking promising. Operating income from mobile was listed at KRW 1.52 trillion ($1.34 billion) - a 17% quarter on quarter increase in sales. Despite this, the mobile division is still operating at a loss - $124.9 million for Q3 which is down from the $169.1 million loss in Q2 2020.

LG’s latest earnings report shows signs of life for mobile division

LG saw improved sales figures across major markets in North and South America. The LG Wing, Velvet and Q51 were listed as the key smartphones for LG in the past quarter. Increased production efficiency and better than expected sales from newer budget smartphones were the main drivers for the mobile division.

LG’s latest earnings report shows signs of life for mobile division

Looking forward, LG will continue to focus on the Americas by expanding its mass-tier model lineup and hopes to see higher demand for its 5G phones as well.



Reader comments

I love a good jack, I even own a V30, and I'll take a OnePlus 7 Pro over an LG V60.

  • AnonD-961247
  • 04 Nov 2020
  • sxn

They are much better than buying phones without 3.5mm Jack and too heavy too. However, it would have been great if LG actually would have made v60 phones lighter in weight too. Otherwise, from all other perspective, they are much better than S20 or O...

I really hate everything. We've got terrible companies like LG releasing terrible phones, then we've got some of the dumbest customers buying these terrible LG products.

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