LG’s weak mobile sales drag down profits again
Display sales are also way down, due again to a general malaise in smartphone, tablet and laptop markets. There’s no cheery news down the road in that division either, as Apple has reportedly cut orders for iPhone screens, and display prices are way down in general.
However, that has actually helped LG’s home entertainment division, especially for premium models like UltraHD LED and OLED TVs. Thanks to lower panel prices, the company made a healthy 109 billion KRW ($90 million), a big improvement over last year, despite a drop in sales. LG chalked that up to a “healthier mix” of products — in other words, it’s selling more of its pricier, profitable 4K and OLED TVs. Despite lower display profits, LG is planning to spend 460 billion KRW ($383 million) converting one of its LCD manufacturing plants into an OLED facility that makes large panels for its high-end TV division.
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