When you think about smartphones, there’s a good chance that the LG is one of the brands that come to mind. Now, LG is not in any case of small companies in the smartphone market, but it seems that, despite its presence in this market long ago, it seems that the company continues to lose money due to weak demand for its smart phones.
The company announced yesterday its financial results for the third quarter of this year, and it turns out that the section of the smart phones incurred losses of $ 130.5 million USD. With these figures, it is clear to us that the section of the smart phones in the company incurring a loss estimated at more than US $ 400 million this year, but despite losing half a million dollars in the year 2018, it appears that LG is still sticking to its presence in the smartphone market.
According to the company LG, has stated by saying : ” expected to lead the launch of the LG phone V40 ThinQ to promote sales in the fourth quarter of this year. Still continue the strategy to improve our business as planned, the company will continue to shift to become more profitable “.
However, it should be noted that LG is not the only one who lose money due to its smart phones. With the onset of market maturity, we are witnessing the fall of the more well-established firms in the market. For example, the dropped out Sony already from several markets, while the company sold the HTC team, which oversees the development of its smart phones to buy Google.
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