Home Consumer Tech LG’s 2020 financial report shows Mobile division is still burning cash

LG’s 2020 financial report shows Mobile division is still burning cash

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LG’s 2020 financial report shows Mobile division is still burning cash

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.

LG’s 2020 financial report shows Mobile division is still burning through cash

Early Newspaper

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.

LG Mobile Q4 2020 performance


LG Mobile Q4 2020 performance

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”.

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LG’s 2020 financial report shows Mobile division is still burning cash