LG 2016 financial report shows poor performance of mobile division
LG Electronics announced its fourth-quarter and full-year 2016 financial results today and they look good for all the departments except Mobile Communications. Overall the company reports KRW 14.78 trillion revenue in sales ($12.79 billion) and KRW 1.34 trillion ($1.16 billion) operating profit due to strong performance by home appliances, air solutions and home entertainment. But one product didn’t perform well and it was the flagship smartphone LG G5 . Source: LG Electronics The Mobile Communications (MC) division announced 15% QoQ growth due to the strong sales of the LG V20 but it was somewhat expected as that was the holiday quarter. Shipments reached 14.1M units with 4% QoQ growth but 8% decrease on an yearly basis. The operating margin went from -1.7% in 4Q 2015 to -16.1% in 4Q 2016 on KRW 2.9 trillion ($2.51 billion) of revenue. LG's outlook on the Mobile department says that the company is aiming to recover premium position in 2017 by launching suc...