LG
FEELS PRESSURE AS MOBILE SALES FALL
Although the number of units sold by LG’s mobile division increased by two percent in the latest quarter, it reported a 31-percent decline in sales after competition from rivals such as Apple and Samsung forced down handset prices. LG’s mobile division reported a loss of around SEK700 million, significantly less than expected and its largest loss to date, writes SvD. Despite a 45-percent increase in LCD TV sales, the losses at the mobile division led to a 90-percent decline in business volume for the entire company.
Although the number of units sold by LG’s mobile division increased by two percent in the latest quarter, it reported a 31-percent decline in sales after competition from rivals such as Apple and Samsung forced down handset prices. LG’s mobile division reported a loss of around SEK700 million, significantly less than expected and its largest loss to date, writes SvD. Despite a 45-percent increase in LCD TV sales, the losses at the mobile division led to a 90-percent decline in business volume for the entire company.
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