LG needed some good news to close out a somewhat disappointing 2015, and the company announced just that when it reported that 450,000 V10 units were sold in its first 45 days of availability.
To put things in perspective, even though the V10, LG’s rugged flagship smartphone for the second half of 2015, was announced on October 1, it didn’t become available in the U.S. until October 27, hence the 45 days. In other words, LG managed to sell the V10 to the tune of 10,000 units each day, increasing LG’s oddly-specific market share for smartphones with a 5.7-inch display or larger.
Finally, LG wagered that the V10 appealed greatly to those with higher income levels, though we’re not sure where or how the company acquired data supporting this conclusion.
450,000 in V10 sales may not sound like a substantial number, especially when compared to the iPhones and Galaxy S6s of the world, but LG sees the number as the kind of news that allows it to end 2015 on a good note. As alluded to earlier, 2015 wasn’t kind to LG, with the South Korean outfit reporting its first mobile operating loss of the year during its most recent earnings call for the third fiscal quarter. More specifically, LG reported an operating loss of $68 million for its mobile division, with overall sales down five percent to $12.3 billion.
There are other factors relevant to why LG is so happy with its V10 sales, including proof of the effectiveness of the firm’s increased marketing efforts. This is no accident, seeing how disappointing G4 sales were for LG all throughout 2015. In addition, the V10 isn’t part of LG’s traditional G series, which has been the company’s flagship smartphone for the last several years, and which still managed to convince our own Andy Boxall to give the handset a glowing review.
Even so, it’s unknown what LG’s fourth quarter will look like, though these V10 sales will likely soften the blow.
