LG posts record profits for 2018, mobile division still losing money
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LG is doing great – it just announced a record yearly revenue of $54.4 billion and record profit of $2.4 billion, 10% higher than in 2017. The mobile division is weighing it down, however.
LG Mobile had a revenue of $7.08 billion and posted an operating loss of $700 million. The company claims that the division is showing signs of improvement thanks to better control on spending and inefficiencies.
This year LG will rely on operator-driven markets (North America and Korea) for stable sales and will push 5G phones and devices with “different form factors” to try and go back in the black.
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LG Home Entertainment posted a record profit of $1.35 billion. It will lean on its premium OLED TVs and large 4K TVs to increase revenue and profits.
LG Home Appliance also posted a record profit of $1.35 billion and was LG’s strongest performing unit in 2018.
LG: Home Entertainment • Home Appliance and Air Solution • Vehicle Components
The LG Vehicle Components Company took in $1.24 billion, the highest in the division’s history. This is attributed to the high demand for infotainment hardware and a strong performance of ZKW. LG acquired 70% of ZKW’s shares in 2017 for €1.1B, the largest acquisition in the Korean company’s history.
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Reader comments
- Trump Fan 1980
- 03 Feb 2019
- kud
At least, in the UK, women are cuter, than say, many u. states (now all thankfully!) .
- Anonymous
- 02 Feb 2019
- xq5
Sales or quality? What's important for you?
- Vvvky
- 01 Feb 2019
- 7kh
The V30 had just 3300 mAh battery but it was stellar performer. Remember that and definitely LGs new flagships will have better batteries than the G7 and V40.