While Chinese manufacturers such as Huawei and Xiaomi are showing excellent growth and revenue figures in 2017, LG Mobile's business is still "not very good." The company published a report for the fourth quarter of 2017.
What's in the report?
The company lost $ 192.33 million, compared to $ 331.37 million in the third quarter of 2017. Indicators have improved, but this is still not enough. And most likely in 2018 the situation will not change much. Last year, LG Mobile once made a profit. This happened in the first quarter, when LG G6 was announced, but the amount was small - $ 3.2 million. Before that, the last profitable quarter was already in 2015.
For the full year 2017, LG registered a total sales volume of $ 10.52 million. Again, these figures are worse than in 2016 ($ 11.71 million).
According to the company, the main factor of such disappointing results is "a complex market and strong competition from Chinese brands" such as Huawei, Xiaomi, Oppo and Vivo. In addition, LG will not start the year in the best way, because the announcement of the flagship LG G7 has been postponed and will not be shown at the MWC 2018 in Barcelona.