Published :11/3/2020 3:43:46 AM
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On the morning of November 2nd, LG recently released its third quarter 2020 financial report, and their mobile sector performance seems to have improved. The operating income of the mobile business was 1.52 trillion won (1.34 billion U.S. dollars), an increase of 17% from the previous quarter. In South Korea or around the world, LG mobile phones were once a competitor of Samsung, but in recent years, it has taken a turn for the worse. Globally, the mobile phone business has also withdrawn from the Chinese market.
From the latest financial report, LG’s mobile business has rebounded. Although the mobile sector is still at a loss: it was US$124.9 million in the third quarter, but it was down from US$169.1 million in the second quarter of 2020.
Some foreign media believe that LG's latest financial report shows "signs of life" in the mobile sector.
LG's mobile phone sales in major markets in North and South America have improved. LG Wing, Velvet and Q51 products were listed as LG’s main smartphones last quarter. The main driving force in the mobile sector came from better-than-expected sales of productivity products and low-cost smartphones.
Looking to the future, LG will continue to focus on the American market by expanding its mass-class model lineup (that is, those mass products), and hope to see its 5G mobile phones.
