LG has announced their 2017 financials as a company, and for the most part, they did pretty well. Their home appliances and television division were both strong performers for the fiscal year, bringing in strong profits for the company. 2017 also saw LG reach their highest annual sales ever.
They pulled in $55.4 billion in revenue, increasing nearly 11% from 2016. Operating profits were at $2.2 billion.
However, we care about the phones, and LG's mobile division sang a totally different tune. The mobile division raked in $10 billion in sales in 2017, but posted a loss of $641 million for the year. Which is… bad. LG says this rough market is partly due to competitive Chinese brands, but the inconsistent Pixel 2 XL probably didn't help things. Also, for the most part, LG straight up loses money on flagships. They claimed advertising for the V30 hurt their profits.
To counter this, they're planning on releasing fewer devices in 2018 with more variants of existing G and V series phones. So while the LG G7 is totally up in the air, we can fully expect the LG G6 Vital X Charge 3 to keep the brand kicking around longer.
source: LG
