LG Won't Stick to a Schedule When Releasing Phones Anymore

Sheri Evans
January 12, 2018

"We will unveil new smartphones when it is needed", Cho pointed out.

LG Electronics CEO Cho Seong-jin says the company plans to unveil new smartphones "when it is needed", rather than to maintain competition with rival devices. He was responding to a question on when the firm would launch its new flagship smartphone LG G7. If this happens, this would mean that the company's mobile division will be in the red for the 11th straight quarter.

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".

When asked about the reason behind this change in strategy, here's what he said: "We found it is important to retain a good platform for a long (time) and concerns rise over the supply of lithium materials".

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For the past 11 quarters, LG has reported negative results from its mobile division, though the loses declined previous year.

The majority of earnings from LG's mobile phone unit are reportedly derived from its more affordable smartphones, than flagship models. Last year, LG did well on the budget phone category but not on the flagship category.

Visitors look at LG's robot brand CLOi on Wednesday at the Consumer Electronics Show in Las Vegas. It never confirmed the mobile business is down but we know it's not making any money. "We plan to acquire small companies and invest in related business". After all, it has been available South Korea since last June but has yet to leave the comforts of LG's home country.

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