LG promises it can fix the mobile division by 2021
LG Mobile hasn't been doing great lately - the division has seen its market share quickly decrease, while its bottom line is in the red. During CES 2020 in Las Vegas, the company chief executive promised the mobile division will manage to turn around by the end of 2021.
Kwon Bong-seok, LG's CEO, revealed the mobile branch will expand the phone lineup and will steadily release new phones, attached with wow factors to woo consumers. However, he didnt mention specific devices or lines, nor hinted what the wow factors might be. He only double confirmed the ambition to boost competitiveness in a really cutthroat smartphone market.
The latest full report from LG revealed the sales of smartphones went down 25% on a yearly basis, although the company managed to halve its operating loss in the third quarter of 2019. LG is heavily relying on its performance on the domestic scene where its 5G products are among the top-sellers.