LG delivered fewer TVs and smartphones in the summer quarter. The manufacturer announced this when discussing its quarterly figures. The drop in demand for TVs is partly due to the World Cup for men that started in June.
Because of the World Cup, more people who had their TV replaced later bought a new TV, LG claims. As a result, demand fell in recent months, compared to the spring and compared to the same period last year. A less well-performing economy in South America was also a cause of the decline in deliveries.
LG hopes that things will improve this fall, partly because it expects a lot from the market for expensive TVs in Western countries, where the economy is doing well. LG is strong in the field of high-end TVs with its OLED TVs and OLED screens for other manufacturers.
In the field of smartphones, the number of delivered units continues to fall. LG no longer gives exact numbers. The financial results are not too bad, because LG delivers more midrange smartphones than before and because the profit margin per device is higher. For example, it will soon release the G7 Fit in the Benelux.
LG continues to struggle in the high-end smartphone market. Earlier this year, it released the G7 ThinQ in the Benelux. LG expects higher sales of high-end models in the coming months, with the release of the V40 ThinQ; however, it will not be released in the Benelux for the time being.