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LG posts $224 million loss in Q4 2016, weak G5 sales partly to blame
LG has posted a $223.98 million net loss for Q4, with the poor performance of its mobile products and vehicle components being the major contributing factors. LG’s Mobile Communications business saw a 15.4 percent quarter-over-quarter increase, but LG confessed that profitability was ultimately “hampered by weak sales of the G5 smartphone.”
That said, LG claims that its V20 flagship saw strong sales and that it expects the success of its “mass-tier” devices released after Mobile World Congress to “help greatly improve” its mobile company’s market position.
One such upcoming LG smartphone is the LG G6, which reports indicate will be a more “straightforward” smartphone compared to the modular LG G5. Rumors suggest it will house a 5.7-inch QHD LCD display, with a greater than 90 percent screen-to-body ratio and 18:9 (or 2:1) aspect ratio. At this point, it seems likely that it will grab more attention that its predecessor.
Overall, the company announced a 2016 operating profit of $1.16 billion — up 12.2 percent on 2015 — which LG G attributed to “strong performance by home appliances, air solutions and home entertainment.” Those divisions achieved their strongest operating profit ever.