LG plans to continue making smartphones despite the seemingly bottomless money pit that is the company’s mobile division.
Despite LG announcing that it lost $130.5/£101 million on mobile in the last three months – and over $400/£312 million on the year – the firm isn’t throwing in the towel on smartphones.
Read more: When is Black Friday?
So, for those lingering loyalists hoping the LG G8 ThinQ will finally offer everything the good-but-flawed G7 ThinQ didn’t, this is your lucky day.
In its earnings report the company said it expects sales to be boosted in the forthcoming period by the launch of the five-camera-toting LG V40 ThinQ, which looks to be the best effort in years.
LG says (via Engadget): “The rollout of its high-end V40 ThinQ smartphone is expected to boost sales in the fourth quarter. With its business improvement strategy proceeding as planned, the company continues to consolidate and implement a more profitable foundation.”
Read more: Best Android phones
The company is predicting this release will return the division to profit, and while the G7 ThinQ clearly didn’t cut it for consumers, smartphone losses were kept somewhat in check by LG’s mid-range handsets.
LG’s mobile losses put a dent in some otherwise strong numbers for the company, whose high-end TV business continues to rake in cash. Overall, it made $667.7/£521 million during the quarter, which is a high point for the year.
In terms of smartphones, the likes of HTC and LG have found it difficult to compete with emerging manufacturers like Huawei, OnePlus and the returning Nokia, who’ve offered consumers higher-end specs without the flagship expenditure. Whether LG can truly bounce back as a true force in the smartphone world remains to be seen, but the company is clearly going to give it a shot.
Are you still an LG phone loyalist? Do you plan on buying the V40 ThinQ? Share your thoughts with us @TrustedReviews on Twitter.