LG’s smartphone division has announced poorer than expected fourth quarter results as it failed to post a profit over the last two years and smartphone sales continue to tumble.

That means that two of the biggest South Korean tech giants in the form of LG and Samsung have posted less than impressive results in the last quarter of 2018. LG’s smartphone division has posted losses of 80.7 billion Korean won ($72.5 million) in the last three months.

As a whole, LG is in a healthy financial position. The Korean electronics giant posted a total company-wide profit of $2.4 billion for 2018 with the smartphone division posting losses “due to lower sales of mobile products.”

Of course, we’ve known for some time that LG’s mobile business is struggling somewhat, but things have seemingly gone from bad to worse throughout Q4 2018. LG Mobile saw revenue drop by 42% over 2017, which LG has blamed on the “sluggish smartphone market.”

This is despite the company releasing some solid devices throughout 2018 in the form of the G7 ThinQ and the V40 ThinQ. The company remains downbeat and says that the outlook is not great for 2019 as the “global economy continues to slow down.”

With new products lined up for launch at MWC, it will be interesting to see how LG Mobile tackles the emergence and growth of Xiaomi, Huawei and Oppo throughout the next 12 months.

More on LG:

Check out 9to5Google on YouTube for more news:

FTC: We use income earning auto affiliate links. More.

Check out 9to5Google on YouTube for more news:

You’re reading 9to5Google — experts who break news about Google and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Google on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Damien Wilde

Damien is a UK-based video producer for 9to5Google. Find him on Twitter: @iamdamienwilde. Email: damien@9to5mac.com