LG’s financial results are better now that they’re no longer selling phones, and their Mobile division isn’t losing money.
LG was out of the mobile market a long time ago. However, the South Korean manufacturer is still a major player in the industry. While LG has ceased to be a supplier of components, and as a provider of support services for its customers, very little will be transferred to other brands. For now, they will continue to receive Android 12 as well as, on a few mobiles, Android 13.
It is, however, good news for the South Korean manufacturer. The company no longer sells smartphones and, as our colleagues at AndroidPolice have pointed out, its economic performance has improved. This was aided by its best quarter in history within its home appliances division. It’s all party at LG’s offices, with no mobile phones in their catalog.
The numbers don’t lie. LG has set a new record for its fiscal second quarter 2022, with $14.7 billion in revenue. This is an increase of 15% from the previous quarter in 2021. However, increased production costs and problems in global supply chains have hampered this milestone’s success. Maybe it’s global warming that makes LG so successful, and not its products. As we mentioned, its division of household appliances and air solutions has had its best quarter in its history. It reached 6,111 million dollars and signed the best result of all divisions of LG Corporation .
Although it is clear that mobile phones are not responsible for the greatest results in LG’s history, the reality is that global results have improved without LG Mobile’s constant losses.
All LG phones that receive Android 12As will be eligible. Although LG is no longer a major manufacturer, this week marks its one-year anniversary. However, LG is still a supplier of components, screens and cameras to other brands. It also sells smartphones for the 5G network in South Korea.
Although LG is still associated with phones, you don’t have to lose as much as before designing and manufacturing smartphones. This was despite the fact that the general public wasn’t very supportive of the design. So in the end it seems like we all won this movement that no one expected from a pioneer in the mobile industry for over 20 years. The LG Wing and the “T”-shaped design that no one used.
Its failure is due to many factors, not just one. Because almost like Google did for a long period, LG knew how make great phones, but it wasn’t clear how to market them. There were also ongoing technical problems with several entry-level trim models, poor software support and poor execution of innovative projects, such as the modular LG G5, double screens in its latest LGV ThinQ, and the rotating “T” panel of the Wing.
However, we know that LG was always at the forefront of technology and that’s why LG is missed. So, here’s a celebration article that highlights their achievements. Time will tell if they return! What will replace LG? And why is it bad news for mobile users?
