Thursday, January 11, 2018

LG Adjusts its Mobile Business Strategy, Wants to Retain Existing Models Longer

A number of smartphone manufacturers struggle to make a profit, and LG's one of those companies. Its mobile division lost money for 11 fiscal quarters in a row, which is it's looking to change course.

Cho Sung-jin, Vice Chairman of LG Electronics, spoke at the 2018 Consumer Electronics Show about the state of the company's smartphone business. He didn't make an official statement on division's losses, but made it clear that company leadership isn't happy with the way things are. When Mr. Sung-jin was asked about the LG G7, he said that the company will "[only] unveil new smartphones when it is needed" going forward, and that it will "not launch [a smartphone] just because other rivals do."

He also said that LG "plan[s] to retain existing models longer," and that one way it plans to accomplish this is by "unveiling more variant models of the G series or V series."

LG's mobile division has continued to bleed hundreds of millions of dollars quarter after quarter. That's despite the beginnings of a turnaround in 2017, when it reduced losses by 40 percent. Still, considering it lost a total of 700 billion won ($650 million) last year, it's no wonder that company brass is stepping in and making big changes.


Source: The Korea Herald



from xda-developers http://ift.tt/2mkkUuQ
via IFTTT

No comments:

Post a Comment