LG is hanging onto the momentum it built in 2014 by a thread. The company announced a profit over the third quarter, but sales and revenue for its smartphone division is on the slide. The Korean giant positioned itself as a major threat at the top of the market with the G3, but instead of continuing to push boundaries the G4 launched in April was too safe.
Over the period June 1 to September 30 LG moved 14.9 million smartphones, a good 6% increase from the second quarter, before the G4 had really landed. However, the year before when the G3 was hitting shelves, LG made 21% more revenue and this year over the same time revenue slipped 9% from 2015 Q2.
LG carved a $110 million profit during the third period, but that was a huge 38% drop compared to the same time last year. The company has to turn it around quick to not lose the momentum the G3 brought, and perhaps the stunning LG V10 and enticing Nexus 5X can help to do that. The V10 is certainly something to appreciate and should really have been what LG did with the G4, innovative, premium, and spec’d to the max.
No comments:
Post a Comment