LG Axes Yearly New Phones, Switches To “As Needed” Basis

X

Following several quarters of consecutive losses within its phone business, LG has announced it will no longer be releasing new smartphones every year, instead switching strategy to an “as needed” basis.

The news was revealed by the Korea Heraldwho queried LG’s Vice Chairman Cho Sung-jin at CES on the expected launch date of the G7 smartphone.

“We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do”, he said.

Mr Sung-jin affirms that the change in company strategy won’t terminate LG’s flagship G or V series smartphones:

“We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series”.

Sung-jin also referenced lithium material supply as factor for slowing down new phone releases.

The company is soon to release its October – December earnings results, which market commentators forecast will likely fall short.

The majority of earnings from LG’s mobile phone unit are reportedly derived from its more affordable smartphones, than flagship models.

LG is tipped to unveil its new G7 smartphone at Mobile World Congress next month.

LG V30 Rose LG Axes Yearly New Phones, Switches To As Needed Basis

728 x 90 LG Axes Yearly New Phones, Switches To As Needed Basis
Dec21 728x90 1 LG Axes Yearly New Phones, Switches To As Needed Basis
728x90 MOTOROLA EDGE 20 PRO LG Axes Yearly New Phones, Switches To As Needed Basis
728x90 Leaderboard UNIFI LG Axes Yearly New Phones, Switches To As Needed Basis
ALOGIC 728x90 1 LG Axes Yearly New Phones, Switches To As Needed Basis
ARL0447 Arlo Cash Back Promo Nov 21 Web Banner 728x90px 300dpi V3 AU scaled LG Axes Yearly New Phones, Switches To As Needed Basis
Leaderboard 728x90 LG Axes Yearly New Phones, Switches To As Needed Basis
DCS 6100LH 728x90 smarthouse LG Axes Yearly New Phones, Switches To As Needed Basis
UE Wonderboom2 CNWeb LB Blue LG Axes Yearly New Phones, Switches To As Needed Basis
211112 4Square Banner Narrow TWE3B 2 LG Axes Yearly New Phones, Switches To As Needed Basis

YOU MAY ALSO LIKE