月份: 2021 年 1 月
LG’s Q4 earnings just poured gasoline onto its burning mobile business
LG’s mobile division continues to lose money at an alarming rate, with no sign of stopping.
What you need to know
LG just posted its Q4 2020 financial earnings, and they don’t paint a pretty picture.
The company lost over $750 million in profits throughout 2020.
LG continues to contemplate exiting the smartphone market.
Rumors have been swirling around the possibility of LG exiting the smartphone market after years of unprofitable results. While the company previously denied that this was the case, recent reports suggest that the company has been looking for buyers and may have found one. Meanwhile, the company’s most recent earnings report has just been released, and things don’t look any better for LG.
While LG reported a 5% increase in YoY sales, the company still saw its smartphone sales fall 9% from the previous quarter which it blames on a shortage of 4G chips. Operating profit also dropped nearly 18% from the previous quarter, and more than 16% for the calendar year, amo…