14 DAY TRIAL // LG officially introduced the LG G5 back in February this year, and although the company expected the handset to take the market by storm, it wasn't so. A new report suggests that LG will most likely lower its smartphone shipment target for Q2 2016.
The report posted by Digitimes suggests that LG might have been a bit too optimistic when estimating sales for the LG G5. It seems that LG Electronics might be forced to lower its smartphone shipment target from the second quarter of 2016 to 15 million units from 16.5 million because of poorer than expected sales of the LG G5. As it turns out, shipments of LG G5 could reach only 2.5 million units in Q2, compared to 3-3.5 million units, as initially projected.
By comparison, Samsung's Galaxy S7 and S7 edge reached 25 million sold units in late June, just a few months after the smartphones were launched in March of this year. Considering these numbers, LG's G5 failed to impress the market, despite its semi-modular design and the plug-in accessories that the company offered together with the device.
LG G5 could reach the mark of 5.5 million shipped units this year
Because of lower than projected sales, LG's mobile communications division could post a loss of $110.59 - 112.32 million for the second quarter of this year, compared to the $175 million loss it reported in the previous quarter.
The report also estimated that LG could ship a total of 5.5 million LG G5 units in 2016, compared to the initially estimated 12 million.
LG G5 came with several accessories that enhanced the phone's functionality, including a portable Hi-Fi DAC audio player, the LG 360 VR headset, and the LG 360 camera module for capturing 13MP 200-degree wide angle images. In addition, the battery can be expanded from 2,800mAh to 4,000mAh, and the handset sports a Snapdragon 820 CPU.