LG today released its July-September earnings report, and mobile performance looks promising. Operating profit from mobile was 1.52 trillion won ($ 1.34 billion), and sales increased by 17% quarterly. Nevertheless, the mobile sector is still losing money. The $ 124.9 million in the third quarter was down from the loss of $ 169.1 million in the second quarter of 2020.
LG’s sales improved in key markets in North and South America. LG Wing, Velvet, and Q51 were listed as LG’s leading smartphones in the previous quarter. The main drivers of the mobile sector were increased production efficiency and higher-than-expected sales from new budget smartphones.
LG will continue to focus on the Americas by expanding its lineup of mastia models and hope that demand for 5G phones will also increase.