Just ahead of the G7 ThinQ unveiling, LG's released its financial results for the first quarter of 2018. Looking at the company as a whole, Q1 saw total sales of USD 14.1 billion and operating profit of USD 1.03 billion.
With sales up 3.2% and profit increased by over 20% from Q1 last year, this is LG's most profitable first quarter in history and the biggest quarterly earnings since Q2 of 2009. LG attributes this success largely to its Home Appliance, Air Solution, and Home Entertainment divisions, each of which saw double-digit margins for their most profitable quarterly earnings ever.
However, things aren't so hunky-dory when it comes to the company's Mobile Communications (aka smartphone) operations.
Although losses are down compared to this time last year, sales of USD 2.01 billion still resulted in a net operating loss of USD 126.85 million. To hopefully reassure investors, LG commented –
Despite component price increases, the company shrank its operating deficit by continuing to improve its business structure. While the global smartphone market is forecast to experience stagnant growth and more intense competition in the second quarter, LG expects to see positive results with the launch of the LG G7 ThinQ flagship phone and the opening of the Software Upgrade Center to deliver higher-quality customer support.
LG's set to announce the G7 ThinQ on May 2, and while we're expecting it to be a powerful and capable phone, will it be enough to help LG stand out against competition from Samsung, Google, and Apple? Sound off with your take in the comments below.
Are you impressed with the Galaxy S20 Ultra's 100x zoom?
There's a lot of talk about the Galaxy S20 Ultra's 100x zoom, but have you really been impressed with its results? Here's what some of our AC forum members think.
Google Nest finally fixes 12 hour camera outage
Google has restored service to Nest camera users after a lengthy period of downtime overnight.
Everything you need to know about the Huawei P40 and P40 Pro
Huawei is getting ready to enter 2020 with a splash thanks to its upcoming P40 and P40 Pro smartphones. Here's everything we know about the phones' specs, design, release, and more.
Even though the Pixel 2 is old, you'll want to protect it with these cases
Whether you love the Pixel 2's design or are simply looking for drop protection for your new phone, there's a case that's perfect for you.