LG’s 2020 financial report shows Mobile division is still burning cash

[GSMArena]

The past weeks have been filled with mixed reports on LG’s future in the mobile sector and there’s clear reason why – LG Mobile is still operating at a loss. Today, the Korean tech conglomerate published its Q4 2020 financial report and the numbers show the Mobile division capped a loss of KRW 841.20 billion ($750.63 million) for the 2020 calendar year. Operating loss for the October-December period alone was KRW 248.5 billion ($222.93 million) and marked LG Mobile’s 23rd consecutive quarter ending with a loss. The report notes stagnant sales of LG’s premium smartphones and shortage of...

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