LG reports $68 million loss in third quarter, as smartphone business fails to find form

lg g4 in hand 1500x1000
Jessica Lee Star/Digital Trends
LG reported its first mobile operating loss this year in the company’s third quarter financial results, losing $68 million in the three-month period spanning from July to September.

The South Korean electronics giant sold 15 million smartphones in the quarter, but the average sale price was lower than a year ago. LG claims in the next quarter it should see the average sale price rise with the launch of the LG V10 and Nexus 5X, combined with more sales worldwide.

LG noted a 39-percent reduction in operating profit across its entire business, but still managed to report a $259 million operating profit. Total sales were down five percent to $12.3 billion.

We didn’t get an exact sales figure for the LG G4, but based on an estimated 15 million total sales, the flagship is well behind the front-running phones offered by Apple, Samsung, and Huawei. LG also refused to release information on wearable sales, but reports claim it is under-performing in that market as well, with Apple and Samsung emerging as the two most popular vendors.

LG did confirm it made a profit on its TV business, and this is the first time in a year that it has done so. The company’s home appliance business made 80 percent of its third quarter profit, but that is a far cry from the performance analysts wanted from LG.

Financial reports across the Android device manufacturers have a similar tone this quarter: lower profits, a drop in sales prices, and a lack of products on the market. Chinese vendors Huawei and Xiaomi appear to have weathered the storm, however, with the former recently overtaking Apple for first place in the Chinese market.

It is still questionable whether LG will be able to return to profitability in the fourth quarter. The LG V10 doesn’t offer huge upgrades from the LG G4, and the Nexus 5X is overshadowed by its larger sibling, Huawei’s Nexus 6P. The market is currently flooded with new devices as well, including the Moto X Force (Droid Turbo 2) and OnePlus X coming later in the year.

Computing

Apple discontinues AirPort Extreme, Time Capsule as it exits Wi-Fi router business

Apple is now officially no longer in the router business. The company had already stopped selling the AirPort Express, and now its retail stores and websites have stopped offering the AirPort Extreme and Time Capsule.
Mobile

Samsung patents show what Infinity-O display could look like on Galaxy S10

While we still may be months away from an announcement, there's no doubt about it: Samsung is working hard on its successor to the Galaxy S9. Here's everything we know about the upcoming Samsung Galaxy S10.
Digital Trends Live

Indiegogo’s CEO on how crowdfunding is going beyond fundraising

David Mandelbrot, CEO of Indiegogo, joins us on DT Daily to talk about how Indiegogo is changing its crowdfunding business to offer support and resources, which in turn would lead to more successful campaigns.
Emerging Tech

Alibaba’s Singles’ Day sale smashes online shopping records

The annual online shopping frenzy that is Singles' Day this year raked in $30.8 billion, up from $25 billion last time around. The Alibaba-organized event generates more in sales than Black Friday and Cyber Monday combined.
Cars

Uber rolls out rewards program that lets its most loyal riders lock in prices

Uber launched a new loyalty program today called Uber Rewards. It offers frequent riders credits to Uber Eats, car upgrades, and the ability to lock in prices on their most traveled routes.
Gaming

15 tips for keeping your vault-dwellers alive in ‘Fallout Shelter’

The wasteland can be an unfriendly place, if you don't know what you're doing. Here are 15 tips that will help your vault thrive in Fallout Shelter, including information on questing.
Mobile

Motorola Moto G7: Here’s everything we know

The Moto G6 range is still relatively new to the market, but rumors have already started about the Moto G7, which is expected some time in 2019. Apparently, a G7 Power version will be joining the G7, G7 Play, and G7 Plus.
Mobile

T-Mobile's new Revvl 2, Revvl 2 Plus are now available for purchase

Last year, T-Mobile launched its own line of branded smartphones. As a follow-up to their predecessors, the carrier has unveiled the Revvl 2 and Revvl 2 Plus -- complete with a sleeker design. Here's everything you need to know.
Mobile

How to take great photos with the Pixel 3, the best camera phone around

You’ve scored yourself a new Google Pixel 3 or Pixel 3 XL, and you want to take advantage of that incredible camera. We’ve got everything you need to know right here about how to snap the best photos with your Pixel 3.
Wearables

Google's Wear OS update 'H' promises battery life improvements

Google has rebranded its Android Wear operating system to Wear OS. Removing the Android name may help people better understand Google-powered smartwatches, which also play nice with iOS devices. 
Smart Home

Huawei could soon take on Google and Amazon with a new digital assistant

According to a report from CNBC, Huawei is working on a new digital assistant that could try to take on the likes of Google and Amazon's Alexa. Huawei already has a digital assistant in China, but the new one will be aimed at markets…
Mobile

Leak shows a third, budget Google Pixel 3 with a Snapdragon 670, headphone jack

The Google Pixel 3 and Pixel 3 XL are considered to be two of the best Android smartphones, but it looks like Google could be prepping a third. A budget Pixel 3 device that boasts some of the best features of the other two has been leaked.
Mobile

Use multiple phone numbers on one device with Verizon’s ‘My Numbers’ app

For those who have separate phone numbers and devices for your work and personal lives, Verizon wants to help you get more organized. With its new "My Numbers" app, you can use up to four additional phone numbers on a single smartphone.
Smart Home

All the best Amazon Black Friday deals for 2018

Amazon may be an online-only retailer, but that doesn’t mean its Black Friday sales are anything to sniff at. In fact, due to its online status, Amazon has huge flexibility with the range of products and deals it can offer. Here's our…