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THE INVESTOR

LG

Initial sales of LG G6 look favorable

  • PUBLISHED :March 06, 2017 - 17:35
  • UPDATED :March 06, 2017 - 17:35
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[THE INVESTOR] Market analysts said the initial sales of LG Electronics’ new flagship smartphone G6 look favorable and could bring a turnaround in LG’s mobile communications unit if they continue. 

LG G6, which was unveiled on Feb. 26 at the Mobile World Congress in Barcelona, Spain, has sold more than 40,000 units in the four days since it went on sale in Korea, LG said on Mar. 6.
 
G6 features an 18:9 display that the company says can provide a more immersive experience when streaming videos and playing games.

HI Investment & Securities predicted the new device would outsell its predecessor G5 due to its trendy design and quality, as well as the absence of rival handsets. 

“If G6 sells more than 5 million units, it will reduce the operating loss of around 800 billion won ($691 million) in the handset unit,” said Song Eun-jeong, an analyst at HI Investment & Securities.

There were also supply problems with the G5 that the company says it has resolved for the new handset.   

LG posted a cumulative operating loss of 1.2 trillion won last year. 

Kiwoon Securities said the G6 would be well received in Korea and North America prior to the Galaxy S8 going on sale in April.

“The lowered material costs of the G6 -- around 10 percent compared to the G5 -- will lead to a turnaround of LG’s smartphone business,” said Kim Ji-san, an analyst at Kiwoon Securities. 

“The G6 is expected to sell 500,000 units in the first quarter and more than 2 million units in the second quarter.” 

By Shin Ji-hye/The Korea Herald (shinjh@heraldcorp.com)
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