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LG mobile reports $381M loss due to poor sales of flagship G5

LG's home appliance and entertainment divisions are doing well, and the company is already looking towards its next flagship handset.


LG has released its financial figures for Q3 2016 and things don't look too rosy. The electronics giant has reported a $381 million loss in its mobile business, due to "weak sales of G5".

LG's shipped a total of 13.5 million smartphones in the quarter, which is down 9% from the same quarter of last year.

It's not all bad though -- its home appliance division (which sells fridges and air conditioners) and its home entertainment divisions both reported good profits for the quarter.

The company is staying positive however, stating "[LG] will focus on maximizing the sales of V20" and "concentrate on the thorough development of next year's flagship model."