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

Alfred Osborne
January 12, 2018

They will "not launch it just because other rivals do" according to the company executive.

While we found that LG particularly hit it out of the park with the V30 past year, the Korean company's smartphone division continues to report financial loses.

When asked when the next premium flagship phone will be revealed, Vice Chairman Cho Sung-jin said there won't be a timeline anymore in launching new smartphones like in the past.

LG is tipped to unveil its new G7 smartphone at Mobile World Congress next month. If this happens, this would mean that the company's mobile division will be in the red for the 11th straight quarter.

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The retailer has been hammered by rising costs linked to the falling pound and the resultant collapse in consumer confidence. George Salmon at Hargreaves Lansdown said the results were good news for investors across the retail sector.

Officially, LG noted that the change was due to "retain [ing] a good platform for a long (time)" and rising concerns over the supply of lithium components. Jo also said that there are plans for keeping high-end smartphones in vogue for longer by using different methods such as releasing more variants of said models. LG has therefore chose to stop releasing flagship smartphones on an annual basis like it has been doing for so many years in tandem with rival Samsung.

This move seems to be a way for LG to downsize its mobile business, which has been losing money for the last 10 quarters.

A number of smartphone manufacturers struggle to make a profit, and LG's one of those companies.

During the show, the firm exhibited its robot brand CLOi, which is an integrated portfolio of robots for information, cleaning and mowing lawns. 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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