LG was once a stalwart of the smartphone industry — remember its collaboration with Facebook back in the day? — but today the company is swiftly descending into irrelevance.
The latest proof is LG’s Q1 financials, released this week, which show that its mobile division grossed just KRW 1.51 trillion ($1.34 billion) in sales for the quarter. That’s down 30 percent year-on-year and the lowest income for LG Mobile for at least the last eight years. We searched back eight years to Q1 2011 — before that LG was hit and miss with releasing specific financial figures for its divisions.
To give an indication of its decline, LG shipped over 15 million phones in Q4 2015 when its revenue was 3.78 trillion RKW, or $3.26 billion. That 2.5 times higher than this recent Q1 2019 period.
Regular readers will be aware that LG mobile is a loss-making division. That’s the reason its activities — and consequently sales — have scaled down in recent years. But the losses are still coming.
LG put Brian Kwon, who leads its lucrative Home Entertainment business, in charge of its mobile division last November and his task remains ongoing, it appears.
LG Mobile recorded a loss of 203.5 billion KRW ($181.05 million) for Q1 which it described as “narrowed.”
It is true that LG Mobile’s Q1 loss is lower than the 322.3 billion KRW ($289.8 million) loss it carded in the previous quarter, but it is wider than one year previous. Indeed, the mobile division lost 136.1 billion KRW ($126.85 million) in Q1 2018.
LG said Mr Kwon is presiding over “a revised smartphone launch strategy” which is why the numbers are changing so drastically. Going forward, it said that the launch of its G7 ThinQ flagship phone and a new upgrade center — first announced last year — are in the immediate pipeline, but it is hard to see how any of this will reverse the downward trend.
LG Mobile is increasingly problematic because the parent company is seeing success in other areas, but that’s being countered by a poor performing smartphone business. Last quarter, mobile dragged LG to its first quarterly loss in two years, for example.
Just looking at the Q1 numbers, LG’s overall profit was 900.6 billion KRW ($801.25 million) thanks to its home appliance business ($647.3 million profit) and that home entertainment business, which had a profit of $308.27 million. Its automotive business — which is, among other things, focused on EVs — did bite into the profits, but that is at least a business that is going places.
Apple Q1 2022 winners & losers: iPhone up, iPad down in bumper holiday
Apple has released the earnings report for its first fiscal quarter of 2022, announcing yet another all-time record with revenue hitting $123.9 billion. The company credits a “very strong customer response” toward its latest and greatest products for the growth, noting its earnings ultimately jumped 11-percent compared to the previous year.
Apple’s most recent fiscal quarter ended on December 25, 2021, raking in growth across the services, wearables, Mac, and iPhone products lines. The iPad was the only notable exception to the records, with the overall trend hinting at a bright future despite pandemic-related disruptions.
The company hasn’t provided forward guidance since the start of the pandemic and the most recent quarterly earnings report is no exception. Despite that, Apple CEO Tim Cook did offer some insight into the company’s expectations for the next quarter in a statement to CNBC, revealing Apple expects to see “solid year-over-year revenue growth” during its March quarter.
As with many other companies in the industry, Apple has been hit hard by supply chain disruptions. Though this issue won’t disappear overnight, Cook said Apple expects these “constraints” to be less of a problem in its next quarter compared to the December quarter.
Apple introduced its iPhone 13 series in September 2021, paving the way for typically high sales over the holiday period. As of October, the company warned that supply shortages may end up hitting the iPhone and iPad lines, potentially impacting holiday sales. This reality was reflected in consumers’ struggle to find the iPhone 13 Pro, at least in their desired configurations, for weeks after its launch.
Though the December quarter ended up exceeding analysts’ expectations, the struggle isn’t quite over. Cook explained that Apple’s “biggest issue” involves supply chain constraints related to legacy nodes, a problem we’ve heard before. However, Apple’s CEO did reveal the company is “doing okay” when it comes to acquiring leading-edge chips, which refers to the powerful hardware powering many of the smart devices used in everyday life.
The constraints aside, Cook also mentioned Apple’s ongoing environmental and social efforts as part of the company’s earnings announcement, stating:
We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.
Facebook Messenger will tell you if someone screenshots your disappearing message
Meta CEO Mark Zuckerberg announced a major new feature for Facebook Messenger, one that will significantly improve privacy on the platform: Notifications when someone screenshots your disappearing messages in a Secret Conversation secured with end-to-end encryption.
“New update for end-to-end encrypted Messenger chats so you get a notification if someone screenshots a disappearing message,” Zuckerberg wrote on January 27, 2022. “We’re also adding GIFs, stickers, and reactions to encrypted chats too.”
Facebook first introduced disappearing messages in November 2020, in both Messenger and Instagram. The move was part of a larger effort to provide additional protection across the company’s messaging platforms, with WhatsApp receiving a similar feature just weeks before.
From the very beginning, Messenger would notify users when someone took a screenshot of a disappearing message, making this latest announcement seem redundant. There’s one very important difference, however.
Facebook’s end-to-end encryption push
Facebook has been working to roll out end-to-end encryption (E2EE) across its messaging platforms. E2EE is a significant upgrade from server-side encryption and is considered the gold standard of privacy and security. In the case of server-side encryption, the service provider has the key that can be used to decrypt your data. As a result, you can never truly be sure who is accessing your data and messages.
With E2EE, however, your data is encrypted in such a way that only you and the person you’re communicating with can read your message. Not even the provider, whose service you’re using, can intercept and read your messages. Needless to say, while E2EE offers unrivaled security, it can be more difficult to add features that are commonplace in non-E2EE services.
That distinction is what makes Zuckerberg’s latest announcement different. Facebook is now providing screenshot notifications within E2EE chats, adding an additional layer of privacy and security to such messages. The addition of reactions, GIFs, and stickers to these chats, meanwhile, will make private conversations a bit more exciting. The new features are rolling out now.
Your iPhone could accept contactless payments in the future
Apple is working on a service that will let you accept payments directly through your iPhone, according to a new report from Mark Gurman at Bloomberg. Gurman’s sources say that the tech giant has been working on the feature since 2020, when it purchased Mobeewave, the Canadian startup behind new tech for smartphones that lets them accept contactless payments from credit cards.
Gurman reports that the payment system will probably rely on the iPhone’s near field communications chip (NFC). The iPhone already uses the NFC chip to process payments using Apple Pay, so it would make sense to build off of that usage with the new service.
Currently, users accepting payments via their iPhone have to rely on third-party hardware from companies like Square. With this new tech, though, businesses would be able to accept card payments by simply letting the customer tap their card against their iPhone. It’s an interesting concept, and one that could turn the world of handheld sales on its head depending on how Apple pushes it.
Apple could announce a new iPhone SE, too
While Apple hasn’t shared any real details about the plan, or indeed any official news at all, it is something to keep an eye on. Additionally, Gurman says that the tech may debut later this year, alongside some other announcements that people are expecting from Apple. Chief among these other announcements is a new iPhone SE model, as well as an iPad Air that offers 5G connectivity. Gurman says those devices are expected to debut in March or April, and we’ve already seen previous reports about a new Mac that uses Apple’s custom-built processors, too.
Apple pushing towards accepting payments directly on its devices isn’t exactly a surprise. The company has slowly been expanding its payment options in the past, with the launch of the Apple Card, as well as a push to get Apple Pay in more stores around the world. The company also launched the Apple Cash Card, which allows you to send payments directly peer-to-peer, similarly to services like PayPal or Venmo. All we need to do now is wait and see how Apple pushes this new service, and exactly what it means for current payment providers like Square.
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