Thursday, 30 July 2020

LG posts its report on turbulent Q2: Phone business keeps sliding

Financial reports for Q2 of 2020 are emerging and LG is the latest company to shared its results. The Korean giant revealed its performance was affected significantly by the worldwide impact of the pandemic. All five key divisions of LG reported a decline on a yearly basis, with the Mobile Communications Company posting sales of about KRW1.31 trillion (about $1.07 billion), which is 18% lower than the same period last year. LG announced a 31.1% increase in sales on a quarterly basis, quoting “stabilization of supply disruption” and pointed out that lockdown measures were lifted...

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