LG cited "an extremely challenging environment" for premium smartphones as the reason for posting a net operating profit of just 200M won ($172k) for its mobile division – a number put into stark perspective by Engadget as a profit of just 1.2 cents per phone. LG specifically singled out competition from the iPhone as a factor.

While year-on-year smartphone shipments were down 3%, it did achieve a tiny 1% increase in revenue, but said that profitability was hit by weaker demand in the premium sector in its home market of Korea. There was better news in the U.S. and Canada, however ...  Read more of this post