Now that they are no longer selling phones and without continued losses from their Mobile division, it seems that LG’s financial results couldn’t be better.
A long time ago, just a year ago, LG left the mobile industry at least as a leading player, although the South Korean manufacturer remains well linked both as a supplier of components and when it comes to keeping the promised support for its old users that little will be migrated to other brands but for now they will continue to receive Android 12 and, at least on a couple of mobiles, also Android 13.
Be that as it may, it seems that It’s all good news for the South Korean manufacturer Now that it no longer has mobile phones in its product portfolio, and as our colleagues from AndroidPolice the company already anticipates that its economic results have improved now that they do not sell smartphones boosted by the best quarter in history in its home appliance division. With no mobile phones in its catalog, it’s all parties at LG’s offices.
LG’s figures don’t lie, has posted a new record in its fiscal second quarter of 2022 with some $14.7 billion in revenue, an increase of 15 percent or so from the same period in 2021, though the increased production costs and global problems in supply chains have clouded this milestone curbing profits. Perhaps it is global warming and not its products that make LG grow meteorically, because as we said its division of air solutions and household appliances has enjoyed its best quarterly financial year in its entire history entering 6,111 million dollars and signing the best result of all the divisions of LG Corporation.
It is easy to understand that obviously mobile phones have not had much to do with the best results in the history of LG’s home appliance division, but the truth is that without the continuous losses of LG Mobile, now the global results are more positive than never.
All LG mobiles that will receive Android 12As for smartphones, it is a reality that LG turns a year old this week just outside the sector as a leading manufacturer although the truth is that it is still linked as a supplier of screens, cameras, and other components to other brands, selling phones for its 5G network in South Korea and working on the definition of the 6G standard which is under development and in which they and Samsung are two of the most involved actors.
LG is still linked to phones, yes, but now you don’t lose as much money as before designing and building smartphones which also the general public was not accepted with the best of critics, so in the end, it seems that we have all won in this movement that nobody expected from a pioneer manufacturer in the mobile industry for more than 20 years. The LG Wing and that “T” shaped design that no one found much use for.
The reasons for its failure are many and not one in particular, because almost as Google did for a long time, the truth is that LG knew how to make good phones but then it was not clear how to sell them in addition to its poor software support, ongoing technical problems with several of its entry-level trim models and poor execution of innovative projects such as the modular LG G5, the double screens of its latest LG V ThinQ or the rotating “T” panel of the Wing.
In any case, the only truth is that LG always knew how to be at the forefront and that’s why we miss him, so here is this article to celebrate that their results have improved… Whether they will return someday, time will tell! Who will take LG’s place, and why its departure from mobile is bad news for you?
It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news writer, it feels good to be part of the team. Besides that, I am building a finance-based blog, working as a freelance content writer/blogger, and a video editor.