LG to launch two new flagship smartphones in 2016

Earlier today, LG announced its financial results for the previous fiscal year revealing that it managed to ship 59.7 million smartphones in 2015, though it suffered a loss of 43.8 billion won. More interestingly though, LG announced in its press release that it will be launching two new flagship handsets this year to help improve its profitability.

LG is already expected to unveil the LG G5 at the Mobile World Congress next month, thus suggesting that it will launch another flagship handset in the second half of this year. Technically, LG did launch a second flagship handset in 2015 as well: the V10, but the handset was only available in limited markets that greatly affected its overall sales.

If the V10 was anything to go by though, LG’s flagship offerings this year are going to be really impressive.

Additionally, to further improve its profitability and remain competitive in the smartphone market, LG will be improving its value chain to make it more cost-competitive.

In 2014, LG had shipped 59.1 million smartphones, so it managed to ship just a wee bit more smartphones last year. Since LG does not heavily market in phones like China and other Asian countries, the company is not able to better compete with Chinese companies like Huawei and Oppo, with the latter more smartphones (60 million) than LG in the previous year.

[Via LG]