LG Mobile struggles in second quarter results

LG Mobile struggles in second quarter results

LG's struggling mobile business posted a loss of KRW57bn (£31.9m) in its second quarter, which the manufacturer blamed on greater marketing expenses for new product launches.

Mobile sales for the three months to 30 June were down 28.5% to KRW2.32tr (£1.30bn) following a slump in feature phone sales. However, the manufacturer said smartphone shipments now accounted for 44% of total sales, up from 36% during the previous quarter.

Overall, LG posted an increase in net profit of KRW159bn (£89.0m), up 46% on last year. Sales were down 10.6% year on year to KRW12.86tr (£7.20bn).

Editor: Graeme Neill

Written by Mobile Today
Mobile Today

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