Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 25 July 2012 08:43

LG reports lower profit, keeps bleeding money in mobile

Written by Fudzilla staff



Life's bad


LG reported disappointing earnings for the second quarter and pinned the blame for the slump on its underperforming mobile division.

Total net income was just $138 million, up 50 percent year-over-year, but still 35 percent lower than the previous quarter. Luckily, LG's TV business did rather well, offsetting part of the loss attributed to mobile.

The Korean consumer electronics heavyweight recently pulled the plug on its tablet range, but it seems Optimus phones aren’t doing well, either. Sales of basic handsets declined, while at the same time LG started throwing money at promoting its new smartphones. Despite the effort, Optimus phones failed to gain much traction.

Analysts are skeptical about LG’s long-term outlook in the mobile space and they don’t see much hope for recovery. Taurus Securities analyst Eugene Kim told the Associated Press that it’s tough to be sure about LG’s possible recovery. Taurus Securities currently has a hold rating on LG.

More here.


Last modified on Wednesday, 25 July 2012 08:49

Fudzilla staff

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments