Against planned shipments of the LG phones for the just concluded Quarter, LG has fallen short of budgeted sales and is set to declare a loss. Sadly, the daring and adventurous LG G5 is stated as being the “scape goat”.
Despite the innovative modular design of the LG G5, the market hasn’t responded favourably in terms of sales. The Korean OEM is set to reduce shipment and sales targets for the rest of the year due to this. Against a budget of shipping 3.5Million LG G5 units in the past quarter, it predicts it could only ship 2.5Million units (pending official sales figures confirmation)
The Korean OEM however would be reporting it’s best quarter in terms of “profitability” for the past 2 quarters, despite declaring a loss of $110Million.