LG’s fourth quarter earnings report isn’t great — the company recorded a loss of 80.7 billion won ($72.6 million) — and once again, it was largely due to poor smartphone sales.
LG’s mobile division recorded declining revenue and sales in the fourth quarter, and the only silver lining is the fact that the company managed to cut costs, so it’s losing money a bit slower than it did before.
Like many of its competitors, LG is betting that new technologies will salvage its money-leaky mobile division.
“In 2019, LG’s mobile division will push 5G products and smartphones featuring different form factors while focusing on key markets where the LG brand remains strong,” the company said in a press release Thursday. Read more…
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