LG Electronics is expected to lower its smartphone shipment target for the second quarter of 2016 to 15 million units from 16.5 million projected previously due to lower-than-expected sales of its LG G5 smartphone, according to a Korea-based Aju Business Daily report.

Shipments of the LG G5 are likely to reach only 2.5 million units in the second quarter, lower than the 3-3.5 million units expected, said the paper.

Due to slow sales of smartphones, LG's mobile communications (MC) business unit is expected to post a loss of KRW128-130 billion (US$110.59-112.32 million) for the second quarter of 2016, compared a loss of KRW202 billion a quarter earlier, added the paper.

Total shipments of the LG G5 may reach only 5.5 million units in 2016, far below the company's target of 12 million units, the paper estimated.