LG G6 sold worse than expected

Flagship smartphone LG G6 did not help to avoid tilt of the mobile division of LG. In the financial report for the second quarter, the company reported weak sales of premium models, despite the lower prices.

Flagship smartphone LG G6 did not help to avoid tilt of the mobile division of LG. In the financial report for the second quarter, the company reported weak sales of premium models, despite the lower prices. The result is LG Mobile has incurred operating losses of $117.27, while total profit has grown at the expense of other areas.
It’s complicated

Revenues of the mobile division of the company amounted to $2.39 billion Financial indicators remained at the same level as last year, including due to growth of prices for components. LG noted in 13% sales growth in the U.S., but this applies primarily to mass models and not LG G6. The American version of the phone has got wireless charging to the detriment of other characteristics (32 GB instead of 64 GB, no DAC), which could also affect demand.

LG hopes to improve the situation in the second half through new products Q-series and another top model. It clearly is a phablet LG V30, which will premiere on August 31, the zero day of the exhibition IFA 2017.

The total operating profit of LG increased by 13.1% to $588.2 million due to certain sales of home appliances and premium 4K TVs.

Source: LG
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