LG reporting falls in profits and revenue for all of 2015
South Korean electronics manufacturer LG recently made public its financial results for both Q4 2015 and its entire fiscal year. Overall, the company saw notable dips in both sales and profits especially in regards to its smartphone division. As a company, LG reported a net loss of 140.5 billion Won (~1.08 billion Euros) for Q4 2015. Sales are also down from 15.272 trillion Won in Q4 2014 to 14.560 trillion Won in Q4 2015.
As for the entire year of 2015, LG reported a decline in sales to 56.509 trillion Won (~48.8 billion USD) from 59.041 trillion Won a year earlier. Net income was halved during the same period from 501.4 billion Won to 249.1 billion Won.
The manufacturer's Mobile Communications (MC) division was hit hardest as it fell from an operating profit of 316.1 billion Won in 2014 to an operating loss of 48.3 billion Won in 2015. LG's Home Entertainment (HE) division didn't fare all that well, either. The poor numbers can be partly attributed to aggressively expanding Chinese manufacturers like Huawei and Xiaomi.
Like HTC, LG's flagship smartphone series has proven to be very good with excellent performance and quality according to our tests, but its worldwide marketing and PR have been effortlessly eclipsed by the likes of Apple and Samsung.