For quite a few quarters, LG's mobile division has been bleeding money. Phones like the G6 and V30 prove that LG is capable of making quality products, but the sales figures that it's been seeing simply aren't good enough. LG just released its financial performance for Q4 of 2017, and as expected, its mobile department reported a loss for the 11th quarter in a row.
LG saw mobile revenues of $2.77 billion in Q4 and $10.52 billion for all of 2017. However, despite these seemingly high numbers, the company is still faced with quarterly operating losses of $192.33 million.
A new CEO was assigned to LG's mobile division last November, and we'll be interested to see if new leadership is what LG needs to turn things around. Development for the LG G7 has been quite rocky so far, with conflicting reports coming out regarding the phone's naming and release date. LG needs to really hit it out of the park in 2018, and while I'd love to see the company dig itself out of the hole that it's in, it'll be faced with stiff competition from Samsung, Google, and others.
Despite losing money with its mobile operations, however, LG as a whole actually had a pretty solid last quarter. Q4 revenues are reported to be 15% higher compared to last year, and full-year profits for 2017 saw an increase of 85% from 2016 thanks to LG's televisions and other home appliances.