LG has published the company financial report for Q1 2016 and while things aren't looking too good for its mobile division, LG managed to win big in both home appliance and entertainment. This resulted in LG posting an operating income of $440 million. That said, we're still early days with the LG G5, so we'll have to see how the smartphone impacts the Q2 report later this year.
Mobile shipments for LG marked 13.5 million in Q1, which was reported to be 12% down on last year. The company also notes that losses were encurred due to investment in high expense G5 marketing. This led to the division losing $170 million. Interestingly, it was LG's home appliance and entertainment units that came to the rescue pocketing more than $360 million and $290 million, respectively.
As touched on above, we'll be eargerly awaiting the Q2 report to see how LG's mobile division fares with a few more months to ship its new handsets.
