LG as a whole had a fairly good Q2 2016, but the company's mobile division posted a $132 million loss that can be partially attributed to low G5 sales. Granted, that loss is a 35% improvement compared to what LG Mobile experienced in the first quarter. The division's 13.9 million sales and $2.86 billion in revenue both represent year-on-year declines.

In talking about the lackluster performance, LG said the loss "reflected increased marketing expenditures and somewhat slow initial sales of G5 smartphone."

Exact sales figures for the G5 were not provided.

Looking forward, LG believes its mobile division will improve with the release of new V, K, and X series devices.