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After doing a complete overhaul early in the year, LG seems to be doing a pretty good job with its LG Mobile Communications division. And the positive trend can be seen with its “solid sales” in the third quarter.
In its earnings reported, the smartphone manufacturer was able to get $1.28 billion total revenue throughout Q3. This is a number almost similar to the reported total revenue last year, which was $1.27 billion.
Apart from its solid sales, the South Korean manufacturer was able to reduce its losses from last quarter. There was a loss of $124.9 million throughout the period, which went down from $135 million in Q3 2019 and $169.10 million in Q2 2020. This is likely caused by the increased efficiency at production sites.
For this quarter, LG expects the demand for 5G smartphones to increase. Part of this is why they are reportedly working on a rollable phone, which will likely launch in March 2021. And with the incoming LG Wing, it’s proof for the company to say that this is a good year.
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