The cause of this mobile malaise isn't exactly a surprise with problems inside and outside LG contributing to the problems. First up, the LG G5 was a flop and the V20, which previewed very well, is going to cost $120 more than the comparable Google Pixel. Then there's the fact that the smartphone market ain't what it used to be, and upstart Chinese brands that don't need to worry about profit are undercutting everyone across the board. Earlier this year, we asked when LG's smartphone patience would run out, and on this evidence, it won't be long until some accountant asks what the value is in losing $300 - $400 million a quarter.

Ironically, while its mobile division flounders, the rest of LG's actually doing pretty well, selling $11.8 billion worth of gear and coining a healthy $252.7 million profit. But that cash comes from areas where LG's arguably much stronger, including home appliances, air conditioners and TVs. In fact, that latter division recorded a record profit, raking in $340.4 million to help offset those other losses. The firm's nascent vehicle components arm is also growing, although it's yet to turn a profit, but that's been attributed to R&D spending and investing for the future.