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