[Newsmaker] LG to shift strategy on money-losing smartphone

[Newsmaker] LG to shift strategy on money-losing smartphone

LG went to the CES 2018 event to launch a number of products including the LG WK9 ThinQ Google Assistant touchscreen speaker, ThinQ smart kitchen appliances, ThinQ AI technology, new α (Alpha) 9 processor, and the LG V30 Raspberry Rose. "But we will not launch it just because other rivals do", he said.

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

The news was revealed by the Korea Herald, who queried LG's Vice Chairman Cho Sung-jin at CES on the expected launch date of the G7 smartphone. LG might not adhere to a strict yearly release cycle, but that doesn't mean that we won't see a new flagship the LG G7 or LG V40 released this year. "We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series", Cho suggested. No wonder the company's mobile business has lost money for 11 straight quarters.

The CEO didn't cite the financial struggles of LG's mobile division as a reason for the change of strategy, instead stating that it is important to retain a good platform for a long time while also mentioning that there are concerns about the supply of materials for lithium batteries.

SUVs and Crossovers Saved 2017 for Automakers in the US
Volkswagen of America Inc. reported an 18.7% drop in sales in December, in spite of strong SUV results mentioned earlier. Fiat Chrysler's sales fell 11 percent, while Toyota's sales dropped 8 percent and Nissan's sales were down 9.5 percent.

LG has historically released its flagship smartphone some time in the beginning of the year, usually around or at the time of MWC in Barcelona.

Cho also talked about the firm's business plan for its robots powered by artificial intelligence and autonomous driving, which the firm has been revealing since it announced early past year that it would foster its robot business as a future growth engine. It never confirmed the mobile business is down but we know it's not making any money.

LG started to provide CLOi robots at Incheon Airport and Starfield Hanam, a large shopping mall in Korea, last year.

Related News:

  • Airbus China announces new top management

    Airbus China announces new top management

    Airbus China has shuffled its top management amid reports that its parent is considering additional production in the country. Eric Chen , previously president of Airbus Commercial Aircraft China, succeeds Laurence Barron as chairman of Airbus China .
    After two-day halt, trains to snowbound Swiss town of Zermatt resume

    After two-day halt, trains to snowbound Swiss town of Zermatt resume

    Local authorities are working under " high pressure " to resolve the situation, according to Zermatt's official website . Helicopters are transporting people to and from the mountain, though no evacuation order has been announced.
    The talk you should have with your teen about e-cigarettes

    The talk you should have with your teen about e-cigarettes

    Around three million adults in Britain have used e-cigarettes in the decade or so that they have been on the market. A study in Pediatrics suggested teenagers are more likely to start smoking after viewing tobacco marketing online.
  • Mass burial for New Year's attack victims

    Mass burial for New Year's attack victims

    We will not be deterred because I am ready to pay the supreme price for the implementation of the anti-open grazing law. Plateau state governor, Samson Lalong had faulted the anti-grazing law, saying he warned Ortom against it.
    Martin Explains The Process Of Landing Brian Bowen

    Martin Explains The Process Of Landing Brian Bowen

    SC head basketball coach Frank Martin just landed his highest-rated recruit in program history and it will make national news. Louisville suspended Bowen upon learning of the arrangement described in the Justice Department documents.
    One sheriff's deputy shot dead and four injured in Colorado shootout

    One sheriff's deputy shot dead and four injured in Colorado shootout

    "Earlier this morning, our son, Douglas County sheriff's deputy, Jeff Pelle, was shot during the Copper Canyon shooting". When they returned they spoke with Riehl , who barricaded himself in a bedroom before suddenly opening fire with a rifle.
  • Zimbabwe`s former president Robert Mugabe ousted by `military coup`: Ex-minister

    Zimbabwe`s former president Robert Mugabe ousted by `military coup`: Ex-minister

    The activists have asked Zimbabwe's High Court to compel Mnangagwa's government to release the findings of a commission of inquiry on the massacres.
    Turkey demands answers over U.S.  training of Kurds

    Turkey demands answers over U.S. training of Kurds

    While Russian-backed forces go for Abu al-Duhur, Turkish-supported ones may try to take Afrin and Manbij. In other words, the perpetrators of the drone attacks were not local rebels under Turkey's supervision.
    Firefighting resumes on burning tanker

    Firefighting resumes on burning tanker

    Chinese media has shared footage of oil tanker Sanchi puffing black clouds of smoke as rescue boats try to douse the flames. The ministry reported that 14 vessels were searching for the missing sailors in the tanker's vicinity before the explosion.
  • Recent Institutional Activity: The Charles Schwab Corporation (SCHW), CVS Health Corporation (CVS)

    Recent Institutional Activity: The Charles Schwab Corporation (SCHW), CVS Health Corporation (CVS)

    BidaskClub downgraded shares of Charles Schwab from a strong-buy rating to a buy rating in a report on Tuesday, October 17th. Truepoint Inc decreased its stake in Cintas Corp (CTAS) by 83.95% based on its latest 2017Q3 regulatory filing with the SEC.
    SEBI bars PwC from auditing listed firms for two years

    SEBI bars PwC from auditing listed firms for two years

    In 2009 too, the firm had filed a consent plea with Sebi which was rejected by the regulatory body. In the light of that stand, it is expected to challenge the Sebi order.
    Accused Manhattan bomber indicted for NYC subway attack

    Accused Manhattan bomber indicted for NYC subway attack

    Ullah was seriously burned and five bystanders received minor injuries December 11 when an explosive device he wore detonated. She said Ullah recently had some stitches removed but had others that were still causing him a "great deal of discomfort".


Most liked

Paul Dunne ready to perform in potential Ryder Cup audition
Beside Fung, also in the team is compatriot and recently crowned 2017 Asian Tour Order of Merit, Gavin Kyle Green. So, those 12 players in that room are very well aware that they have to go out and play golf this week.

French league suspends goalline technology after cup errors
The LFP said it will announce next week "follow-up action to be taken in relation to this dossier". The goal line is also used in assisting the referee in awarding a goal or not.

Floyd Mayweather Makes A Joke Out Of #MeToo Movement
Floyd Mayweather was asked about his thoughts on the #Metoo movement and the retired boxer answered the only way he knows how. The year 2017 saw the rise of whistleblowers denouncing sexual assault and harassment from different industries.

Actually, Oregon's ban on self-service gas is good
As of Monday, gas stations in rural areas don't have to have an attendant now between the hours of 6 a.m. and 6 p.m. Added Deerick Smith on Twitter: "To all the OR natives, I will be teaching how to pump gas tomorrow via Skype".

Diego Costa quickly finds the net in first appearance since leaving Chelsea
Atletico Madrid's players attend a training session at the Wanda Metropolitan Stadium in Madrid on December 31, 2017. Atletico has also strengthened its attack with Vitolo, who is similar in his large build to Costa.

Congress defends Siddaramaiah on attack against RSS
Siddaramaiah had on Wednesday said that the BJP, RSS and the Bajrang Dal had terrorists in their organisations, a charge rubbished by the BJP.

British American Tobacco (BTI) Receives Daily Media Impact Rating of 0.24
It improved, as 57 investors sold SPG shares while 202 reduced holdings. 86 funds opened positions while 183 raised stakes. ETRADE Capital Management LLC increased its stake in shares of British American Tobacco PLC by 15.7% in the third quarter.

Pope calls for worldwide solidarity with migrants and refugees
On the back of the card, Pope Francis wrote, "The fruit of war", and signed his name. Message for World Day of Peace 2018, 1).

Both Frozen Or Fresh Embryos Work Well For IVF In Most Women
Li Peng Monroe, top left, and her daughters, Melissa, 20, right, and Ashley, 17, front, were conceived using frozen embryos. Participants were given one treatment of IVF where either a fresh or thawed embryo was transferred.

Looking From A Larger Picture Perspective: Veru Inc. (VERU), Wells Fargo & Company
Brighton Jones Llc decreased Ishares Russell 3000 Index (IWV) stake by 9,682 shares to 192,039 valued at $28.67 million in 2017Q3. As per Friday, October 6, the company rating was maintained by UBS. ( NYSE:T ), 10 have Buy rating, 1 Sell and 18 Hold.

'Tiger Zinda Hai' inching closer to Rs 300 crore
The movie which is directed by Ali Abbas Zafar is the sequel to the 2012 hit, Ek Tha Tiger which was then directed by Kabir Khan. Few can negate the fact that before it became commonplace, Salman Khan popularised the notion of fitness in Bollywood.

Former WWE Women's Champions Returning For Royal Rumble
SmackDown Tag Team Champions The Usos in a 2 of 3 Falls Match is now official for the WWE Royal Rumble pay-per-view. We're now just weeks away from the Rumble but still got a disappointing episode from the blue brand.

Cancer survival 'not affected by faulty BRCA gene'
The primary outcome was overall survival for all BRCA1 and BRCA2 mutations carriers compared with all non-carriers at 2, 5, and 10 years post-diagnosis.

Celebrity Big Brother: Little Mix star backs Courtney Act to win
He was named the runner-up of RuPaul's Drag Race in 2014, with the victor that year being Bianca Del Rio. Channel 5 said its initial all-women line-up was to mark the100 years since women won the right to vote.

European Union top court told same-sex spouses have residence rights
Coman in [Brussels] does not seem to me to be capable of rendering their relationship ineffective", he wrote. Romania's constitutional court referred the matter to the ECJ.