Feature phone slump behind woeful financials.
LG has struggled to keep up with HTC and Samsung in the smartphone era. Its shipments hit 24.8m units in Q2 2011, up 50 per cent on the previous quarter. And revenues rose 11.6 per cent.
But none of this was enough to turn a profit within its mobile division.
LG believes the underlying pattern is positive, pointing to an improvement on the same quarter last year, when its mobile division posted a net loss of KRW 119 billion ($113.4 million).
However, the pressure is still on for LG to come up with a big hit to match the Samsung Galaxy or the HTC Desire. Thus far the Optimus series isn't really delivering.
Earlier this month LG revised its overall target for all phone sales this year from 150 million down to 114 million.
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