LG sees sales from the sale of smartphones decrease and wants to record rising sales in the future by releasing cheaper models in the coming months. The South Korean manufacturer announced this during the sharing of the quarterly figures.
LG plans to release less expensive smartphones in the coming months. The manufacturer also wants to release the LG Velvet in more countries. This decision was made after smartphone sales in the past quarter fell 19 percent from the same period last year. LG did earn more than the previous quarter.
TV sales also declined, mainly due to the corona virus and associated lockdowns. LG wants to bet more on its expensive models with OLED screens, its Nanocell series, and TVs with large screens. LG’s total revenue decreased by 18 percent to 9.1 billion euros. Net profit decreased by 38 percent to 46 million euros.