LG will continue to sell phones despite major financial loss

LG says it will keep selling smartphones despite the fact that its phone division isn’t currently profitable.

The South Korean company lost 146.3 billion KRW ($168,281,575 CAD) selling smartphones this past quarter. Further, the manufacturer has lost more than $500 million CAD throughout the year.

LG noted in its recent investor’s meeting that it would have lost even more money if not for the company’s midrange smartphones. Recently LG revealed and released a variety of LG midrange devices, including the Q Stylo+, Q Stylo 4, LG G7 One and the LG X Power 3.

LG believes that the V4o ThinQ smartphone could boost its mobile sales in the fourth quarter. That said, the V40 ThinQ isn’t getting a release in the Canadian market, according to LG.

However, LG isn’t the only company suffering, HTC’s phone making business is also experiencing financial and sales difficulties.

Source: LG Via: Engadget