By Jon Russell
The latest proof is LG’s Q1 financials, released this week, which show that its mobile division grossed just KRW 1.51 trillion ($1.34 billion) in sales for the quarter. That’s down 30 percent year-on-year and the lowest income for LG Mobile for at least the last eight years. We searched back eight years to Q1 2011 — before that LG was hit and miss with releasing specific financial figures for its divisions.
To give an indication of its decline, LG shipped over 15 million phones in Q4 2015 when its revenue was 3.78 trillion RKW, or $3.26 billion. That 2.5 times higher than this recent Q1 2019 period.
Regular readers will be aware that LG mobile is a loss-making division. That’s the reason its activities — and consequently sales — have scaled down in recent years. But the losses are still coming.
Source: Tech Crunch