LG seems to be having trouble with selling king of the crop smartphones. The company released its financial results for Q2 2017, and despite the mobile communications arm seeing $2.39 billion USD in revenue, it took a loss of $117 million. This is around the same as the results last year.
The company claims that the challenging quarter was due to lower than expected premium smartphone sales and increased component costs. This hints at the LG G6 not selling as well as the company had liked. Interestingly, North American sales grew by 13% over last year, so the company is doing better in that market.
LG has done better to prove itself in the current smartphone market, so we expect sales to go up if it can keep the innovative devices coming. The company agrees, expecting better sales in the second half of 2017 with new phone announcements coming soon.
This news comes after HTC reported a big spike in revenue after the release of the U11, which really goes to show that the smaller players in the game are pushing hard for a comeback.