The Q3 numbers for LG are in, showing its cellphone unit lost money for the
sixth straight quarter, with profits coming from the home appliance and air conditioning units. On the home entertainment side, it shipped more flat panel TVs than ever before (6.8 million) and despite lower revenues managed to improve operating profit by selling more of its high end
Cinema 3D and LED-lit HDTVs. Unfortunately for the mobile division, sales were down 8.5 percent from last year and the company recorded a $128.47 million operating loss. Making things worse,
Reuters reports its rival Samsung is expected to report strong profit in mobiles on Friday, and pass Apple as the world's biggest smartphone seller on the back of its
Galaxy S line. We don't know if LG will be able to turn things around anytime soon, but giving the
Optimus LTE an Ice Cream Sandwich finish and shipping it sooner rather than later couldn't hurt.
Continue reading LG posts a net loss for Q3, loses ground in mobile sales
LG posts a net loss for Q3, loses ground in mobile sales originally appeared on Engadget on Wed, 26 Oct 2011 02:48:00 EDT. Please see our terms for use of feeds.
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