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Tuesday, 30 July 2019

LG announces another decline in smartphone sales

Another quarter, another disappointing result for the mobile business at LG Electronics. The company posted its financial report for the past three months and the Mobile Communications Company said sales were down 21.3%, compared with the same period last year. At least they went up 6.8% on a quarterly basis, but the reason for the poor results are the competitors from China and their "aggressive pricing". Speaking in numbers, the Q2 2019 sales were KRW1.61 trillion ($1.38 billion), while the operating loss was KRW313 billion ($268.4 million) due to the higher marketing investment...



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