LG to reveal its financial results for the second quarter, section, phones continue to hemorrhage money

LG Velvet

Began financial reports for the third quarter of this year from various companies, make their way to the web, LG is the latest company to reveal its financial results for the third quarter of this year. South Korean company revealed about their vulnerability dramatically, and the dimensions of COVID-19.

Recorded all the main sections of the five to buy LG lower on an annual basis, announced the Department of Mobile Communications from harvest sales total of $ 1.07 billion USD, which is lower by 18 percent compared with the same period last year.

The company announced the LG an increase of 31.1 percent on the level of sales compared with the previous quarter thanks to the stability of continuous supply chain procedures for the lifting of the quarantine in large markets such as the United States of America and Europe. Reduce the operating margin was also 15.8 percent, rather than 23.8 percent in the first quarter of this year, this is some good news at least.

LG phones keep underperforming during a turbulent second quarter

However, it should be noted that this quarter is the eleventh consecutive decline in revenue department mobile devices in LG company on an annual basis. The last time announced the LG for such a decline in sales of phones were down in the third quarter of 2003. Seventeen years ago, scooped the company 1.029 trillion Korean Won, which is equivalent to today’s results. We hope to earn the company finally this curse in the second quarter of this year.

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