LG mobile full year 2020 revenue report does not bring good news By ZGadgetReview
Hi welcome to z, gadget review. As we know, lg's mobile division is in trouble. I've made two videos about them getting out of the smartphone business and possibly having a buyer for the mobile side of their business in the US. So the U. S. market lg announced revenue and for the mobile department.
It doesn't sound very good. The lg communications company announced full year 2020 revenues of 4.66 billion, fourth quarter, sales of 1.24 billion, which were 4.9 percent higher than the same quarter of 2019, but 9.2 percent lower than the previous quarter, due to shortages of 4g chipsets and sluggish sales of premium smartphones in overseas markets, pretty much what they're saying is the amount of sales that they did for the fourth quarter of 2020 were higher than, but they were lower than the cells that they did in the third quarter and the blaming this on the 4g chipsets. I don't know how true that is, but that would have been also the quarter where the lg wing came out, so that would have given them a boost on sales, but for them to say that, even though their sales were higher were still lower than the quarter before, it means that the euro was probably like this, and then it just went like that. The full year operating loss, totaled 750 750.63 million dollars, reflecting increased marketing investments to support flagship devices partially offset by fixed cost reductions due to manufacturing efficiencies, five lg making a lot of money on the mobile side. They still lost a lot of money which is giving us a better picture of why lg is trying to get rid of their mobile device department.
It makes sense that they want to 86 it, because this is a money, losing division and, of course, the more money you pump into it like in r d and stuff like that. In order to create an appealing device. If the device doesn't sell, then your investment is getting wasted because it's not going anywhere right, and so it kind of makes sense. That lg is trying to figure out a way to get out of this money losing side of their business and that's not to account with how much money they lost in 2019. , based on some reports in 2019, lg mobile lost a trillion one, which translates to about 894 million dollars, so the fact that they lost almost as much money this year- well, not this year, 2021 but 2020 as they did in 2019, means that their efforts aren't really paying off.
I personally think now with everything that I'm looking at, that lg is actually done with the mobile business and that rollable phone that could have been the savior is probably never going to come out, but then again they already put money on this phone. The phone exists um. Obviously we don't know how far manufacturing they are. How many are in existence? Any of that they did say at CES that the phone will come out in 2021. So that means that there will be something in the plans to you know make the phone.
Of course. These are conflicting things, because we also read an uh had an article. That said that they really didn't have any plans on how they were going to release it or if they were going to release it. So it's really. That is a weird thing that is happening right now with lg.
It is exciting to look into what's happening and why they're going in this direction? Oh my god, like what's going to happen? What do you think do you think lg will actually call it quits on the smartphone business? Let me know in the comment section: that's it for me. Go ahead and subscribe, give us a thumbs up. It really helps the channel go ahead and hit that bell, so you can be alerted every time. We have new videos, and thank you very much for watching.
Source : ZGadgetReview
Phones In This Article
Related Articles
Comments are disabled
Latest Articles
