The previous weeks have been stuffed with blended reports on LG’s future in the cell sector and there’s definite motive why – LG Mobile is still running at a loss. Recently, the Korean tech conglomerate published its Q4 2020 financial report and the numbers display the Mobile division capped an absence of KRW 841.20 billion ($750.63 million) for the 2020 calendar year.
Operating loss for the October-December length by myself used to be KRW 248.5 billion ($222.93 million) and marked LG Mobile’s 23rd consecutive quarter ending with a loss. The report notes stagnant sales of LG’s top price smartphones and absence of 4G chipsets because the main problems. Smartphone sales introduced in KRW 1.39 trillion ($1.24 billion), which is 9.2% decrease than Q3 values but at the same time is up by with regards to 5% in comparison with the same time final year.
Despite the rough financial issue, LG believes the frenzy for 5G will consequence in extra put a question to for its smartphones as user put a question to is anticipated to advance relief to pre-pandemic levels in 2021. The report also notes that LG will “closely overview the direction of its cell industry” and might perchance perhaps “share its industry direction once obvious”.