HomeWearablesLG delivers mixed results for Q2 2016

LG delivers mixed results for Q2 2016

LG G5 isn’t doing well. But, just how bad is the situation? Well, according to latest Q2 2016 earnings, LG Mobile communication reported a loss of 153 billion won ($132 million) on a revenue of 2.86 trillion won ($2.46 billion), 12% up QoQ and 6% down YoY, mainly due to weak demand of its flagship offering and increased marketing spending.

The overall revenue of LG Electronics stood at 14 trillion won ($12.05 billion), up 0.6% YoY and delivered the profit of 584.6 billion ($503.10 million), a healthy increase of 140% YoY, mainly due to strong growth in Home Appliance, Air Solution and Home Entertainment sectors.

LG shipped total 13.9 million smartphones in the quarter, up 1% YoY and down 3% QoQ. The tech giant is expected to launch the V10 successor along with some mid range offerings in K and X series. LG expects weak G5 sales in Q3 as well.

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