LG delivers a quarter fewer smartphones partly due to delaying G7 ThinQ

LG delivered almost a quarter fewer smartphones in the past quarter than in the same period last year. According to the manufacturer, the decline is partly because it releases its main phone later this year than last year.

The LG G6 was already available in March last year, so the first deliveries fell within the first quarter, while the manufacturer will only present the successor G7 ThinQ next week. LG speaks in the quarterly figures of a ‘revised smartphone strategy’.

Part of that new strategy is to release more variants of its smartphones in the high-end G and V series. In addition, the manufacturer has opened a division that must provide smartphones with rapid updates and upgrades for a long time. In this way, the company hopes to be able to sell smartphone models for longer.

LG delivered 11.8 million smartphones in the quarter, 23 percent less than in the same period last year. The manufacturer hopes to rectify this with the release of the G7 ThinQ and other models for the midrange market in the coming months. The smartphone division is making a loss.

The TV division received more sales than in the same period last year, mainly because it sold more of its expensive products. Among them are probably many OLED TVs. The business unit expects to benefit from sporting events in the coming months, such as the upcoming European Football Championship.

The turnover of the entire group amounted to around 15 trillion Korean won, which is currently about 9.5 billion euros. Operating income amounted to 1107 billion won, which amounts to approximately 850 million euros.