LG reported second quarter earnings and the news was mixed. While three of its four business units saw growth, its Mobile Communications Company saw flat income and an operating loss of $117.4 million.
LG blamed its quarterly performance on weaker than expected sales of its flagship smartphone, the G6, and an increase in component costs. LG showed off the G6 at the Mobile World Congress event in February and the device reached world markets in April. It’s a premium metal-and-glass smartphone with a unique 18:9 display and dual cameras. LG said its mobile unit did see a 13% increase in sales across North America thanks largely to strong performance of its mass-tier handsets, such as the K20 and Stylo 3.
LG hopes things will get better. “The introduction of the new Q series and the rollout of a new high-end device in the weeks ahead are expected to bolster the company’s performance in the second half of 2017,” it said in a statement. The high-end device in question is likely the V30, a follow-up to last year’s V20.
LG has a press event scheduled on August 31 during the IFA trade show, which will take place in Berlin.
