Although LG in the past has contributed to making the history of mobile telephony great, it has been some time since the satisfactions in the economic sphere. The Korean company has tried to bring innovation to a market, that of smartphones, perhaps too flat but the LG Wing and LG Velvet devices have not raised the company's prestige. The decline in sales is an important negative symptom that has led to a restructuring within the company management.
A restructuring that seems to be bearing the first fruits, at least from what emerges from the financial report that LG has published concerning the third quarter of fiscal 2020, where the sale of smartphones has stabilized. According to the documents, the South Korean mobile division generated revenue of $ 1,28 billion, an amount very close to the $ 1,27 billion presented in the same period last year.
LG announces the financial results of smartphones: after years of decline, finally a brake
A result that perhaps taken alone should not be celebrated, but considering the dark past that LG experienced, this result represents a promise for the future. Another small success revealed by the report is the reduction in losses, which went from $ 169,1 million in the second quarter to $ 124,9 million in the third.
LG expects to see demand for its 5G smartphones grow, setting itself the mission of competitive launches. Who knows if he will succeed in the enterprise? We wish him this with all our hearts.
