LG is a serious contender when we talk about their overall products, and when we go way back in time when the smartphone age began, LG was there too. The company wasn’t a market leader, yet it delivered handsets that left their mark in the industry, like the famous LG G3.
The phone was the first at that time to feature a 1440p panel, and trust me when I say this, but having that phone in 2014 was a privilege. In the battery department, it wasn’t that great, but the specs were next-gen. The future of LG began to crumble under their feet as time passed, and the collapse in their market share was becoming more and more prominent. The numbers were there, and they didn’t look pretty.
The Present LG
Finishing another quarter, the reports have started flooding the internet, and the statistics don’t look great. In the report we find a colossal 21.3% of sales lost compared to the previous year, at the same time.
The company is doing well overall; it’s just getting crippled in the mobile phone division. LG even provided sales numbers that suggest earnings topping 1.38 billion dollars, and the losses seem to past the 250 million dollars mark.
How Did That Happen?
There is only way LG is having a hard time selling their mobile phones and is the ascension of the Chinese firms that are rising in popularity, taking the market by storm. As we already know, LG wasn’t a market leader on anything, not even on the budget smartphones category, with companies like Huawei and Xiaomi asserting their dominance in this department.
While the smartphones department may look almost in shambles, LG is doing great in other departments, and we can clearly see that from the 4.1% increase and 15.4% increase in the company’s operating income. The losses suffered in the smartphone department don’t seem to be compensated by departments like electronics, vehicle components, and even in the home entertainment section.
Sonia Theo has a long experience in writing, and now she is our associate journalist covering tech, gaming and mobile news. She has a BA in English and German and a BA in Arts and Design. Sonia likes writing about the latest updates in current and future games, guides and reviews. Her favorite past times is gaming, crafting and cooking. Sonia is always ready to help players with tips when they’re in a tough boss fight.