LG's mobile division made a staggering loss of $68 million in the last three months, according to figures released in the company's financial report for Q3 2015. It's a blow to the division at the popular manufacturer who brought in profit of just $172,000 back in in Q2.
Despite a 12 percent sales increase in North America, worldwide performance for the division stumped with sales decreasing by 7% quarter-over-quarter and by 21% year-over-year. The company expects competition to remain fierce with the launch of new hardware from other companies, but does plan to improve profitability by increasing sales with the launch of V10 and Nexus 5X.
While the handset side of LG's business looks to be in a spot of bother, the company performed well overall. LG posted a profit of $109 million, taking into account increased sales of electronics in other areas of the company.
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