LG Electronics has reported revenues of 14.55 trillion won (US$ 12.89 billion) in the second quarter that ended June 30, 2017, which is up 3.9% compared to the same quarter last year. This is due to strong sales in home appliance unit, said LG. It has reported operating income of 664.1 billion won (US$ 588.2 million), up 13.6% for the same quarter in 2016.
Mobile Communications sector reported a quarterly revenue of 2.70 trillion won (US$ 2.39billion), down 13% QoQ and 21% YoY due to weak sales of premium models, marketing expense increase from global launch of G6 and increase in component costs. The sector posted a operating loss of 132.4 billion won (US$ 117.27 million), compared to loss of KRW 139.5 billion a year ago.
It shipped of 13.3 million units in the quarter, down 4% YoY and 10% QoQ. Smartphone shipments in LATAM increased 13% YoY from strong sales of low end models, but it was down 12% QoQ from weak sales of premium models.
In the Q3 2017, LG will expand the sales of the recently introduced Q6 lineup and launch the successor of V20, which is V30. LG said that it will also enhance G6 model lineup such as ‘+’ and improve profitability by managing costs and pursuing platform/modular design.