Following the end of another quarter, companies started to publish their results for the three-month period. LG is one of these companies, and, unfortunately, the results for the South Korean firm Mobile’s division maker show another drop in revenue.
The other segments of LG are improving, but unfortunately, when it comes to smartphones the company’s mobile division is falling. During the last quarter of 2018, LG’s mobile profit was $1,51 billion, contributing to a total of $87 billion in revenue for the entire year.
When compared to Q3 of 2018, LG mobile’s revenue dropped a whopping 16%. It’s a troublesome situation for a category that receives a huge investment from the company. Furthermore, the Q4 is always marked by the bump in sales due to the holiday, but in this case, the spirit of Christmas couldn’t help the South-Korean company.
LG’s executives are keen that the situation will change in 2019, but for that, a change in the company’s strategy will be necessary. The first step will be marked by the inclusion of 5G smartphones in the company’s portfolio. The first LG handset with the new connectivity will debut in MWC 2019 as LG V50 ThinQ 5G. However, considering the alpha stage of 5G and the premium price behind the feature, it’s hard to see a huge increase coming from 5G.
“In 2019, LG’s mobile division will push 5G products and smartphones featuring different form factors…”
With “Different For Factors” we believe that LG’s executive quote refers to a new foldable smartphone that the company is rumored to be working. But we hope that this isn’t everything. With the advent of bezel-less smartphones, punch-hole cameras, and in-display fingerprints, the company needs more than just a niche folding smartphone.
With the LG G8 ThinQ renders revealing a device that is very similar to its predecessor, users will be inevitably disappointed. Of course, we are just at the start of 2019, and the company still has quite some time to work on something new and unique to achieve customers.