LG’s Q2 2015 financial results are unveiled and the numbers are quite disappointing. The company reports reveal a lowest quarterly operating profit since Q4 2013.  Q2 shows an operating profit KRW244 billion which is down 60% from KRW610 billion the previous year.

The two prime departments reported the downfall i.e. TVCs and smartphones.Despite the fact that LG stands at number two for TV manufacturing in world rankings, it is still struggling with this product, where it reported KRW 82.7 billion ($71.5 million) loss. A year before, the division was reporting twice profits, though the downward trend was already rather obvious with a $5.4 million loss last quarter.

Meanwhile LG‘s smartphone division is experiencing the same setbacks, reporting a KRW 0.2 billion profit.         Since with this scenario the future seems dim. Moreover, the smartphone market is getting increasingly crowded with new brands and LG is failing to stand out. A squeezed global TV sales aren’t helping either, with the problem worsened by narrow profit margins due to weak currencies in emerging markets.