LG’s financial report for the first quarter of 2019 (Q1 2019) has been released and it shows the mobile division continues to struggle. The company’s revenue continues to decline with just KRW1.51 trillion ($1.34 billion) generated between January and March. This is 30% less year on year (YoY) and 11% less when compared with the previous quarter.
As indicated by the official statement, the LG Mobile Communications Company figured out how to limit its operational liabilities to KRW203.5 billion ($181 million) while in a procedure of reconstructing its cell phone business. It is expected that the launch of the LG V50 ThinQ 5G will make a positive impact in the second quarter, while the migration of the assembling plants from South Korea to Vietnam will improve productivity and aggressiveness in the second half of the year.
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Apart from the mobile business, the other divisions ensured that the organization, in general, is in a solid state. The total income generated in the quarter was KRW14.92 trillion ($13.27 billion) and operational cost remained at KRW900.6 billion ($801.25 million). So the uplifting news is LG can bear to deal with its weak mobile division until it discovers its way back to gainfulness.
(source)
