LG revenue down 7% YoY due to slower mobile sales
LG has announced its 2018 financial results, and, while numbers talk about record full-year revenues (mostly thanks to appliances and home entertainment products), some aspects need improvements. Revenues for the fourth quarter of 2018 ($13.99 billion) are higher than those for the third quarter of 2018, “but 7 percent lower than the last quarter of 2017 primarily due to lower sales of mobile products“, says the press release.
The mobile division reported a revenue of $7.08 billion for 2018. Sales in the last quarter of 2018 were $1.51 billion, down 16 percent from the third quarter of 2018. For 2019, LG’s mobile division will focus heavily on the adoption of 5G. We know the company is already looking beyond 5G, doing preparations for 6G.
As far as smartphones are concerned, LG is planning on focusing on key markets where the brand has a strong presence, in addition to experimenting with “different form factors”. Whether that’s the gesture-controlled phone teased for MWC, foldable smartphones, or a modular approach, is yet unknown.