Since the past few years, LG has been launching G series smartphones in the first quarter of the year and it has been releasing the V series smartphones in third quarter of the year. In a bid to help its struggling smartphone business that has encountered losses in 11 straight quarters, LG has decided that it will not be setting a regular timeline for launching its smartphones.
On Wednesday, when LG Electronics Vice Chairman Cho Sung-jin was asked about the estimated launch time of the LG G7 during the Consumer Electronics Show (CES) 2018, he responded by saying that the company won’t be announcing new phones just because rivaling companies are doing so and it will be launching new smartphones only when it is needed. It However, he added that the company will continue to launch more variants of the G series and V series smartphones.
LG has been doing well in home appliance business and other sectors, but it has met with very slow growth in the smartphone business. In 2017, it had released the LG G6 and LG V30 with full screen design, but most of its earnings did not come from its flagship smartphones, but from budget phones. Compared to 2016, LG was to reduce its losses in mobile business by 40 percent in 2017. Analyst are of the view that LG’s mobile business will suffer in this year too, but it will continue to reduce it losses.
Cho did not directly confirm that the company is changing the strategy towards mobile business because of the losses it has been facing. Instead, he said that it is necessary to retain a good platform for a long time while stating the concerns about the supply of materials for lithium batteries. A recent report had also revealed that LG is planning to rebrand its G series of smartphones. Hence, it is speculated that the company may launch the LG G7 with a different moniker.
Will LG’s new strategy for its mobile business allow it to reduce its losses and become a better brand? Share us your views by adding your comments below.