LG has revealed it lost $68 million in the third quarter, with a fair portion of that loss attributed to failures in the smartphone market. The company was able to sell 15 million phones between July and September, but the average sale price was lower than in 2014. LG didn't breakdown sales by phones, but even with a good portion of the 15 million, LG's G4 flagship isn't close to competing devices.

A 39% reduction in operating profit was reported for the quarter, as was a 5% reduction in total sales to $12.3 billion.

LG expects it should do better in the smartphone market during the fourth quarter with a rise in the average sale price due to the LG V10 and Nexus 5X. It is widely believed LG will still struggle to turn a profit in the fourth quarter, even with a rise in the smartphone sale price.