LG has today announced its financial results for Q2 2015 and the results are, well, meh. As a whole company, LG Electronics made a decent profit of 226.4 billion won, or about $206.38 million USD, in what it called an “extremely challenging environment”, however the results of the mobile division speak of a different story.
Despite increasing sales overall by 1% year-on-year, LG saw a decline of 3% in overall device shipments to 14.1 million. LG largely attributed this to a decline in demand for premium smartphones in its home country of Korea, however noted that US revenue had grown 36% year-on-year thanks to mid-range devices. LG intends to rectify this by marketing both its premium range and mid-range better in hopes that will increase its profits.
It’s kind of disappointing to hear that even LG is doing poorly in this current climate, especially given that its LG G4 is definitely the best smartphone it has every put out. But these are the times we live in, and LG has to find a way to get its profits back up on the back of its devices – LG G Pro 3 anybody?
What do you think about LG’s financial results? Let us know your thoughts in the comments below.
