LG’s Q3 2015 financial results are in with a $68 million loss on mobile

It’s that time of the year where companies begin posting their Q3 2015 financial results. This time around is LG, who doesn’t seem to be doing well in the mobile department after posting a $68 million loss. It’s quite a hit to the company, considering that the mobile division only brought in a meager $172,000 in profit during the Q2 2015 results.

LG’s mobile division has seen a 12% sales increase in North America, but worldwide sales have fell by 7% every quarter this year, indicating a 21% drop in worldwide sales just this year. Things could be looking up for LG’s mobile division, though. The company has just released some hot contenders in the market, the LG-made Nexus 5X and LG V10, all of which are expected to increase profits and boost sales.

The Nexus 5X is a beloved smartphone, being the successor to the famed Nexus 5 in 2013. It will no doubt do well as far as sales go, especially considering that it’s highlighted on Google’s own online storefront.

It doesn’t take much to see that LG’s mobile division is in a tough spot, and that’s partially because of tough competition coming from its rival Samsung. LG as a whole company did post a profit $109 million this quarter, which includes the sales from other departments, such as TVs, blu-ray players, and so on.

source: LG

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