It likely comes to no surprise that Sony has been struggling to sell their smartphones, to the point where they even left Malaysia to focus on more lucrative countries. But it seems that they're still in a downward spiral based on the earning released. And it looks like they're not the only ones; LG is struggling too.
LG reported that sales from its smartphone division declined by 21 percent compared to the same quarter the previous year, while Sony’s dropped by almost 30 percent.
LG blames “slow sales of 4G premium models and intense market competition in mass-tier products” which dragged down its results in spite of the launch of its first 5G phone, the LG V50. Meanwhile, Sony reduced its annual forecast for smartphone sales from 5 million to 4 million units for this year, according to Bloomberg.
These declining numbers are especially concerning given the high profile launches delivered from both companies during the reporting period. Sony released the Xperia 1, a super tall phone with a 21:9 aspect ratio screen, and LG had its flagship for the year, the LG G8, alongside its debut 5G handset. Unfortunately for LG and Sony, both phones received underwhelming reviews, and it’s not surprising that they’ve been struggling to sell.