Home NEWS LG Biggest Revenue in 2017 Thanks to TV Sales, but Mobile Division is in Loss

LG Biggest Revenue in 2017 Thanks to TV Sales, but Mobile Division is in Loss

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LG Electronics, posted its biggest-ever revenue in history in 2017 due mainly to strong TV sales, the company said on Thursday. Revenue reached record high of $57.9 billion or roughly Rs. 3.68 lakh crores in 2017, Operating profit was $2.33 billion or roughly Rs. 14,800 crores last year, marking the second-biggest in its history.

The revenue increased 10.9 percent compared with the previous year, with the operating profit jumping 84.5 percent. During the October-December quarter, LG’s revenue reached $15.99 billion or roughly Rs. 1.01 lakh crores, up by 14.8 percent compared with the same period in the previous year.

But the LG’s mobile division, which makes smartphones, posted an operating loss of $201 million in the fourth quarter on high marketing costs and higher component prices. Since the LG’s Mobile market is not that great for LG but over all grip on house appliances is very profitable and that made me thinking of some better smartphone might come in future.

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