LG made only 1.2 cents in operating profit for each phone it shipped last quarter

LG made only 1.2 cents in operating profit for each phone it shipped last quarter:

Selling smartphones has become a low margin business for LG, based on its latest earnings report. The company posted an operating profit for the second quarter of just $172,000 for its mobile business. During the three months, the company shipped 14.1 million units, a 3% decline from last year's second quarter figure.



But the most incredible number is the 1.2 cents in operating profit that LG made per phone shipped. LG blames the results on weak sales of premium phones. Smartphone and tablet sales showed strong growth in North America, but sales in its own backyard of South Korea were weak. ...