It must be annoying to sell a boatload of smartphones and not make any serious money off them. Just ask LG! The Korean company’s second-quarter smartphone profit was so miniscule, it was only enough money to cover 235 iPhone 6 handsets at retail price.
Mind you, the 235 devices would be all 16GB iPhone 6 units, or the cheapest off-contract new iPhone you can currently get. Such a device is selling for 850,000 won in Korea (that’s Apple’s official price for it), and LG reported 200 million won in profits, or around $172,000, from smartphone sales during the quarter ending in June
The money could also cover 161 128GB iPhone 6 Plus models, you know, in case the entry-level iPhone 6 version isn’t good enough.
In total, LG sold 14.1 million smartphones in the June quarter, registering revenue of 3.65 trillion won, or around $3.33 billion.
By comparison, Apple sold 47.5 million iPhones during the June quarter.