LG today reported its second quarter earnings and took the opportunity to tease a forthcoming handset.
LG’s mobile business increased revenues 12% from the first quarter to $2.86 billion, but “somewhat slow” sales of its G5 flagship and the associated marketing costs led the unit to a loss of $132 million. Total device shipments were up 3% to 13.9 million during the three months ending June 30. The company expects things to get back on track during the next few months.
“The launch of the new V series and expanding sales of mass-tier K and X series models are expected to improve the business unit’s performance next quarter.”
LG brought the V10 handset to the U.S. last year. It was a semi-rugged phone with powerful cameras. LG didn’t name the new V series handset, but it is likely a successor to the V10.
The timing of the launch is unclear. LG’s K series devices are mostly entry-level offerings, while the X series fill in the mid-range tier.
