Uh-oh, it looks like LG isn’t doing too well again. The Korean electronics manufacturer recently posted its Q3 2011 financial report and sad to say, it’s far from pleasant. LG reported sales down on both year to year basis and sequentially, and that it has actually lost money over the past three months. Sales in Q3 2011 were only $11.57 billion – 10.3% lower than Q2 2011 and 4% lower than Q3 2010 – no matter which way you look at it, it’s not good.
And for the second quarter in a row, it is the handset division that’s bringing the company down. LG only managed to sell 21.1 million units last quarter, bringing in $2.41 billion – that’s down 16% compared to last quarter and 9.5% compared to last year. This also makes it the fifth losing quarter in a row for LG’s mobile division.
The company started off the year pretty well with the first dual-core smartphone, and the first globally available 3D smartphone – yet it still hasn’t been able to see the same level of success that its peers have been getting. Why do you think that’s the case? Any ideas about what LG can do to pull up its own bootstraps?
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