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RSS FeedsLG`s mobile sales up 10%, nearly returns to profitability thanks to the G6
(Android Central)

 
 

27 april 2017 19:52:55

 
LG`s mobile sales up 10%, nearly returns to profitability thanks to the G6
(Android Central)
 


LG isn`t out of the woods yet, but this quarter was a good start. LG`s financial shortcomings in its `Mobile Communications` division are well known, but its Q1 2017 earnings report paints an improved picture. LG sold 14.8 million phones in the quarter, which was a solid 10% jump from this time last year. For the first three months of the year, LG`s mobile division had revenues of $2.61 billion, which was up 4% quarter-over-quarter and 2% year-over-year — LG says the improvement was driven by strong sales in the Americas of the new LG G6 and many mass-market models. Though the small bump in revenues is good, the important change has been on the backside where structural changes have cut costs and nearly returned the division to profitability. The Mobile Communications business lost money overall, but it was basically a rounding error — meanwhile its operating margin improved to 0%, which is a heck of a lot nicer than the -10% it has been hovering around for the last y...


 
7 viewsCategory: Technology > Mobile > Android
 
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