A timely withdrawal is a victory: LG makes more money without mobiles - Teknogue 24

A timely withdrawal is a victory: LG makes more money without mobiles

Now that they are no longer selling phones and without continued losses from their Mobile division, it seems that LG’s financial results couldn’t be better.

A timely withdrawal is a victory: LG makes more money without mobiles

It’s been a while, just a year, LG left the mobile industry at least as a leading player, although the South Korean manufacturer remains well linked both as component supplier like at the time of keep the promised support for its old usersthat little will be migrated to other brands but that for now they will continue to receive Android 12 and, at least on a couple of phones, also Android 13.

Be that as it may, it seems It’s all good news for the South Korean manufacturer Now that it no longer has mobile phones in its product portfolio, and as our colleagues from AndroidPolicethe company already anticipates that their economic results have improved now that they do not sell smartphones boosted by the best quarter in history in its home appliance division.

LG Event OLED Evo

Without mobiles in its catalog, everything is parties in the LG offices.

LG’s figures don’t lie, has posted a new record in its fiscal second quarter of 2022 with some $14.7 billion in revenue, an increase of 15 percent or so from the same period in 2021, though the increased production costs and global problems in supply chains have clouded this milestone curbing profits.

Perhaps it is global warming and not its products that makes LG grow meteorically, because as we said its air and appliance solutions division has enjoyed its best quarterly financial year in its entire historyentering 6,111 million dollars and signing the best result of all the divisions of LG Corporation.

It is easy to understand that obviously mobile phones have not had much to do with the best results in the history of LG’s home appliance division, but the truth is that without the continuous losses of LG Mobile, now the global results are more positive than never.

All LG phones that will receive Android 12
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As for smartphones, it is a reality that LG turns a year old this week just outside the sector as a leading manufactureralthough the truth is that it is still linked as a supplier of screens, cameras and other components to other brands, selling phones for its 5G network in South Korea and working on the definition of the 6G standard which is under development and in which they and Samsung are two of the most involved actors.

LG is still linked to phones, yes, but now you don’t lose as much money as before designing and building smartphoneswhich also the general public was not accepting with the best of critics, so in the end it seems that we have all won in this movement that nobody expected from a pioneering manufacturer in the mobile industry for over 20 years.

LG Wing unfolded screen

The LG Wing and that “T” shaped design that no one found much use for.

The reasons for its failure are many and not one in particular, because almost like Google did for a long time, the truth is that LG knew how to make good phones but then it was not clear how to sell themin addition to its poor software support, ongoing technical problems with several of its entry-level trim models and poor execution of innovative projects like the modular LG G5the double screens of its latest LG V ThinQ or the Wing T-shaped rotating panel.

In any case, the only truth is that LG always knew how to be at the forefront and that’s why we miss himso here is this article to celebrate that your results have improved… If they will return one day, time will tell!

Who will take the place of LG, and why its departure from mobile is bad news for you
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