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LG Won’t Stop Making Phones Despite Continuous Losses

It’s not going to give up

LG just can’t catch a break when it comes to smartphones. Despite raking in record profits for 2018, nabbing a record yearly revenue of $54.4 billion and record profit of $2.4 billion which is 10% higher than in 2017, it’s mobile division continues to lose money.

At this point in time, the mobile arm of LG has posted a loss of 15 consecutive quarters, which means that LG Mobile hasn’t posted a profit in almost 4 years.

Despite that LG has publicly said that they won’t give up on the mobile business since it’s an important part of their IoT ecosystem.

LG Philippines earlier denied reports of the company pulling out their mobile business in the country, saying that they are in the midst of improving their business structure to enhance the overall business efficiency of their mobile business.

LG is slated to announce a brand new phone in Mobile World Congress this month, which will likely be the G8. It’s unknown if the G8 will ever arrive in the Philippines.

Source

John Nieves

John is a veteran technology and gadget journalist with more than 10 years of experience both in print and online. When not writing about technology, he frequently gets lost in the boonies playing soldier.

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