Despite poor sales of its latest flagship smartphone, life’s still good for LG as it reportedly prepares to announce its best quarterly result in two years.
On Friday, LG said it is on track to outdo its 531-million USD results from Q2 2014, its most recent fiscal high-water mark.
The company’s bottom line was lifted by its appliance and TV businesses. According to Reuters, this past quarter, LG, which is the second biggest TV maker by market share after Samsung, made approximately $504-million USD on the strength of surging television set sales. Notably, analysts interviewed by Reuters are speculating TV sales spiked thanks to the just completed UEFA Euro 2016 soccer tournament, which was broadcast in multiple countries in 4K, leading to increased demand for TV sets which support for the format.
Warmer than average temperatures in some markets may have also boosted sales of the company’s air conditioning units, according to some analysts interviewed by Reuters.
With only some 2.2-million G5 units sold, the company’s mobile division is expected to report its fifth connective loss. LG recently fired some executives after the G5 failed to perform up to the company’s expectations.
The company is scheduled to announce its final Q2 results at the end of the month, at which point we’ll be able to see exactly how the G5 performed.
[source]Reuters[/source]
MobileSyrup may earn a commission from purchases made via our links, which helps fund the journalism we provide free on our website. These links do not influence our editorial content. Support us here.
