Saturday, 30 January 2021

LG’s 2020 financial report shows Mobile division is still burning cash

The past weeks have been filled with mixed reports on LG’s future in the mobile sector and there’s clear reason why – LG Mobile is still operating at a loss. Today, the Korean tech conglomerate published its Q4 2020 financial report and the numbers show the Mobile division capped a loss of KRW 841.20 billion ($750.63 million) for the 2020 calendar year. Operating loss for the October-December period alone was KRW 248.5 billion ($222.93 million) and marked LG Mobile’s 23rd consecutive quarter ending with a loss. The report notes stagnant sales of LG’s premium smartphones and shortage of...

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Author: via Bestsoftpro

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