LG Electronics on Tuesday published its preliminary earnings report for the third quarter of the year, revealing that it's expecting to post an operating income of around $452 million during the three-month period ending September 30th, an 82.2 percent increase compared to Q3 2016. The figure itself would still mark a 22.3 percent decline compared to the tech giant's previous quarter despite the fact that it's based on an estimate of $13.3 billion in revenue, an increase of 4.6 percentage points compared to the previous quarter and a 15.2 percent annual rise. In overall, the estimate would suggest that the Seoul-based original equipment manufacturer is expecting to see lower profit margins compared to the second quarter of the year but should still post some positive signs related to its long-term business strategy.
The phone maker is presently in the process of preparing for a global release of the LG V30 which it officially unveiled in late August and already started selling in its home country. The new high-end device from LG is the company's latest attempt at pulling its mobile division back from the red where it has been for nine consecutive quarters now, struggling to make an impact in the premium segment of the market and also delivering underwhelming performance in terms of entry-level and mid-range offerings. The LG G6 was met in a relatively positive manner by critics but failed to gain significant momentum among consumers, having ultimately failed to post results which would allow LG to significantly narrow down its mobile losses. The LG V30 seems to be an upgrade on the G6 in most aspects yet still took at least a month and a half to arrive to most of the company's target markets following its announcement, with Samsung and Apple already debuting their flagship offerings in the meantime and seizing a significant portion of high-end smartphone sales that are projected to be recorded in the second half of the year.
The South Korean consumer electronics manufacturer will publish its consolidated financial report for the third quarter of the year later this month but has yet to announce a firm date of its availability. Both its Q2 2017 and Q3 2016 financials were publicized on the 27th of their respective months, and the upcoming report may follow suit.