LG has announced Q2 2017 results today which shows 14% increase in profit. Although the LG Mobile division is loss i.e. worth $86.62 million. The 14% increase in profit is because of TV and electrical business profit which also slightly lower than expected.
“The loss of the mobile sector may be more than 100 billion won (about 86.62 million US dollars), while the TV and electrical business profit Ability slightly lower than expected. ” – LG mobile sector, Dong Bao Securities analyst
In number LG Q2 2017 profit is $ 570 million which 14% from the Q1 2017. As compared to the second quarter of Samsung Electronics which is 12.1 billion US dollars Profit, LG’s profit only its 1/20 i.e. not any competition to Samsung at present.
According to this information LG Mobile division business is in ninth consecutive quarterly loss. The main reason behind this is the Under powered LG G6 which is packed with snapdragon 821 and it was in direct competition with Galaxy S8. And Galaxy S8 outperforms the LG G6.
We hope LG V30 will cater to Mobile Division’s profits.