Interesting news has come up recently about the fate of the LG mobile device unit. The unit’s inability to avoid damage makes these interesting news a little more understandable. The South Korean tech giant’s mobile unit completed 2020 with an operational loss of 841.20 billion won.
The unit’s loss in the fourth quarter of 2020 was 248.5 billion won. Thus, LG’s mobile device division closed a quarter with a loss for the 23rd time in a row. There are some analyzes regarding the result in the financial report.
Accordingly, the primary problem is that the sales of LG’s flagship phones are not at the desired level. Problems in 4G processor procurement are also shown as one of the important factors.
Although the financial statement is not very good, LG has not given up on its mobile device unit. The company believes that with the spread of 5G devices, smartphone sales will return to pre-pandemic levels. In the report, it was stated that LG’s evaluation process regarding the future of the mobile device unit continues and the direction to be followed will be announced when it is decided.