Things aren’t looking good for LG, as sales for the fourth quarter are coming in negative. LG Electronics turned up an operating loss of 35 billion Won or $29 million.
Most of the losses can be associated with the failure that was the flagship LG G5. In fact, it’s estimated that the G5 sold only 3million units for LG, and to out that in context, consider this: LG sold around 6 million units of G3 (it’s best selling phone, BTW), and Samsung recently was rumored to have ordered parts to produce 10 million units at the initial level.
The LG G6 is estimated to sell more than 5 million units after launch, but that remains to be seen depending on what new technology LG brings to the table. The flagship is expected to launch around February or March.
But LG is involved in a lot of other business sectors too and their Home and Appliances division returned a profit of 2 trillion Won (~$1.6 mil). LG’s camera module sector returned good profits too for Q4.
Hopefully with the launch and sales of the upcoming LG G6, LG hopes to turn the tides and recover from that. The flagship is rumored to feature a 3D glass back along with new features, so we should see some new innovation from LG’s part. The G6 is also projected to be running on the new Snapdragon 835, where the processor is also expected to power flagships from other OEMs too.