LG Electronics Records Third Quarter Loss

LG Electronics Records Third Quarter Loss


Asia Bizz: LG Electronics Records Third Quarter Loss

Korean electronics and appliances manufacturer, LG, has its recorded third quarter loss in their financial statements. This has now brought in more worries for the company, as LG has even lost out on its cellphone segment sales globally. The company has suffered terribly in the cellphone market, as it has been left behind Nokia and Samsung.

The quarterly sales of the cellphones globally places Nokia on the top followed by Samsung. Even when it comes to flat screen television sales, LG is ranked No.2 behind Sony. As per the analysts at LG, they state that the only reason that LG is lagging behind, is that it is suffering badly because of it’s lack in the smartphone segment.

It has been seen this year, that other cellphone companies have come up with their particular cellphones, which are competing strongly in the market. The companies include Samsung, Motorola, Nokia, Apple etc., who have launched their respective smartphones on a global basis and the customers are indeed attracted towards them. Amidst this LG seems to have been left behind as it does not have a smartphone that can fairly compete against other smartphones available in the market today.