Earlier this year, it was reported that LG was considering exiting the mobile phone market but the Korean giant denied the report. Later details surfaced that it was considering selling its mobile division, wich was then followed with another report that said negotiations with potential buyers fell through and that it will instead shut down the business.

The latest news from Korea via The Korea Times says that LG may announce its exit from the smartphone market next week. The report specifically says the announcement will be made on Monday, April 5, after the board decides the fate of the loss-making arm of the company.

A Twitter user by the name @FrontTron said a few days ago that LG’s plans for the 4000 workers from its mobile division is to assign them to its Changwon home appliance factory.

LG Update:

Remaining employees in the LG MC division will be assigned to the Changwon home appliance factory next week
This is the procedure of dismantling the entire 4,000 employees of the LG phone division.
Rollable was an unfinished model used to increase the … (1/3) https://t.co/xoQdt7iFL5

— 来自上海的Tron (@FrontTron) March 29, 2021

The tweet also said that the LG Rollable will be unfinished as there wasn’t an agreed price to sell the device. This means we shouldn’t expect a commercial version of the LG Rollable that was first announced at CES 2021. Also, since the tweet says that the LG Wing is the manufacturer’s last major product, the chances of the LG Stylo 7 launching seem to be pretty low. It also means that the LG W41 series is the last set of mobile phones the manufacturer announced in India.

RELATED:

• Samsung Galaxy S21 series sales top 1 million units in South Korea
• Six interesting phones that Prove LG was Never Afraid of Innovation
• LG seeks to develop new battery cells for Tesla in 2023

The post LG may confirm exit from mobile business next week appeared first on Gizmochina.

LG Electronics today released its earnings report for 2020. There was a 1.53 percent increase in its revenue of 63.26 trillion won (US$ 56.45 billion) from 2019. The financial report also showed that Q4 2020 revenue was 18.78 trillion won (US$ 16.76 billion) reflecting a massive jump of 16.9 percent from its corresponding performance in Q4 2019The increased revenue figures of 2020 yielded an operating profit of 3.20 trillion won (US$ 2.85 billion), an increase of 31.1 percent from 2019, and this is a new record for the company. The record-setting performance was mainly driven by higher sales of home gadgets and OLED TVs in addition to a strong showing in automotive component solutions.

The operating profit for Q4 2020 was 650.20 billion won (US$ 580.19 million), ramping up 538.7 percent from 2019.

LG projects that 2021 will see a normalization of the global economy as vaccines are now coming on board across the world to cope with the COVID-19 pandemic.

The Mobile Communications division of LG reported revenue earnings of 5.22 trillion won (US$ 4.66 billion) for the full year 2020, while Q4 sales grew 4.9 percent to 1.39 trillion won (US$ 1.24 billion) from 2019, but 9.2% lower than Q3 2020, not unconnected with the global shortages of 4G chipsets in addition to sluggish sales of LG flagship smartphones in the global market.

The full-year operating loss was 841.20 billion won (US$ 750.63 million), reflecting increased marketing investments to support sluggish sales of flagship models, partially offset by manufacturing efficiencies.

In 2021, with 5G technology moving at a fast pace, the global demand for smartphones is expected to go up but intense competition is expected among the players.

Amidst speculations that LG plans to exit the mobile telecoms market, the company said that it plans to closely evaluate the business before coming to a decision.

RELATED;

• Xiaomi patents two more surround display smartphone designs
• Xiaomi Mi 11 global launch set for February 8
• Xiaomi patents a Smartphone design with a detachable rear camera layout

The post LG’s profit in 2020 hit a record high but the mobile phone arm fails to rebound appeared first on Gizmochina.

Korean company LG Electronics announced on Monday that it had done a reorganization of its mobile phone division to increase efficiency and sales by outsourcing its low to mid-end smartphones, in a direct move analysts to significantly cut costs and compete with its competitors.

The fortunes of the mobile communications subsidiary of the company have been on a downward spiral for over five years, with operating losses reported for 22 consecutive quarters, and this has led to a new management direction and the choice of Original Design Manufacturer (ODM), a spokeswoman for the company said (via).

LG had said last year that it will expand ODM to its mid-range smartphones from just low-end smartphones. The company will now outsource the design and manufacture of its smartphones, while still maintaining the LG brand name on the products.

LG has also jettisoned some of its research and production positions and realigned others to fit with its new business model, which may imply redundancy for a segment of the company’s staff. The move is part of plans to rely more on LG’s in-house research and development and production of high-end smartphones, with low and mid-end ones to be produced by ODM.

In 2013 LG was ranked No. 3 in the global smartphone market by Strategy Analytics, seven years later, the company is not even among the top seven OEMs, indicating massive regression in turnover and market share over this period, with Chinese brands like Huawei, Xiaomi, Oppo and Vivo, taking preeminent positions at the top, research firm Counterpoint stated.

Further illuminating the scenario, the research firm states that LG knows it is competing with Chinese competitors, not Apple or Samsung, and it is seeking to add to its lower-end models’ value by using Chinese original design manufacturers, according to Counterpoint analyst, Tom Kang.

Going further, Kang states that even if LG outsources the production of that segment of its products, without the requisite marketing ability, it is bound to come short against Chinese tech firms who have a better marketing strategy.

UP NEXT: Vivo Y52s with 90Hz screen, Dimensity 720, 48MP dual cameras and 5,000mAh battery launched

The post LG is reportedly planning to outsource lower-end phone manufacturing to cut costs appeared first on Gizmochina.

Amid of various futuristic smartphone announcements with leading technologies, LG is expected to pull-off its mobile operation chords in the Philippines. According to a Filipino source, it has been revealed that LG is set to cease its mobile operations in the country. As per the source, LG hasn’t revealed any new device after the LG G7 ThinQ, and even LG V40 ThinQ didn’t get introduced in the Philippines.

LG has not confirmed anything but a company’s executive has dropped some beans on the latest developments. As per executive, LG will soon officially make an announcement regarding the current situation. If LG goes away officially, then the Filipino fans won’t be able to enjoy the latest phones from the company. They have to get it from a third party seller which will be a costly affair.

From past some months, LG’s mobile division has been struggling to churn out some profits. It is the only division of LG which is running negative. Now, these developments have cleared the surface from LG Mobile’s deteriorating financial condition.

• Read More: BOE technology edges past LG as it coasts closer to Samsung in AMOLED panel supply

Although, globally LG is speculated to be coming with a foldable display device at MWC 2019. They will even showcase 5G enabled device packed with 4000 mAh battery and Snapdragon 855 at an event in Barcelona next month. Later this year, LG G8 ThinQ is also set to unveil with Snapdragon chipset and a notched display. It will come with a significant revamp than the LG G7 ThinQ which was launched last year.

There are no more details available regarding the speculated LG Mobile’s exit from the Philippines.

(Via)

The post LG Mobile rumored to cease operations in the Philippines appeared first on Gizmochina.

LG is doing pretty well with it’s products catalogue all around the globe. Now, the technologies are phasing towards bright future and major tranformations have just started taking place. In order to cope with these transformations in a better and efficient manner, LG has restructred its deparments and workings. In latest reshuffling, LG has commenced two new divisons of robotics and autonomous vehicles.

These newly formed departments will be under the direct supervision of the CEO. These two new departments will allow company to focus in a better way and strtegically on these important sectors. It is an effort from LG to brings robotics under the same roof which will help the South Korean giant to attain much advanced R&D of new technologies.

Earlier, the robotics department was divided into different reasearch groups acroos mutiple departments wihtin the company. The new changes will fasten up the reaerach and development of robotics.

Another, autonomous vechicle division will focus on goals to bring new AI based technologies for the US and Canada. The reasearch is a major task that is assigned to this new division. It is done to compete against the Samsung’s AI research centres across North America.

In the recent reshuffling, LG’s TV boss is assigned another task to head firm’s troubled mobile business unit. With this we hope LG will come up with some new mobile devices in the next year.

• Read More: LG will reportedly showcase its foldable smartphone during CES 2019

Recently, LG electroncs has reported a profit of 771 billion won in Q2 2018. While, its mobile division recorded loss for consecutive 7th quarter in a row. Even, LG has plans to launch the new LG foldable display smartphone in the year 2019 which will be usable also.

Well, it seems a good measure of planning to secure the future by emphasizing more on future technologies.

(Source)

The post LG restructuring brings new robotics and autonomous vehicles departments appeared first on Gizmochina.

Here is the good news for the user who waiting the new gadget from LG. Because we got the new leaked picture of the new LG flagship smartphone, LG Optimus G2.

These pictures show more clearly the LG Optimus G2. As seen on the picture, the LG Optimus G2 will has very thin bezel on the phone and run the Android 4.2.2 Jelly Bean operating.

From the previous rumor, the LG Optimus G2 will powered by Snapdragon 800 and Adreno 330 GPU with 3 GB of RAM, and packs with 5.2-inch Full HD display, sports with 13 megapixel camera with Optical Image Stabilization (OIS) technology.

The Global version of the LG Optimus G2 will only pack with 2GB of RAM, and the 3GB of RAM is only for LTE-Advanced version that only available in Korean market. According to rumors, the global version will be available on the market on August 2013, so let’s wait.

Here are the picture of LG Optimus G2:

http://www.youtube.com/watch?feature=player_embedded&v=xRtCJmcw-6A

The post Leaked picture of LG Optimus G2 appeared first on Gizmochina.

LG Optimus G was released in South Korea and Japan in white color version only. But recently, there is a news that LG Optimus G Pro will available in black color.

Not yet known when the color model will be officially on sale. However, as revealed by LG Mobile, the version will be available ‘soon’.

Specifications are undoubtedly the most notable aspect of the Optimus G Pro. LG pulled no punches and made its latest flagship a complete package with as few compromises as possible.

It boasts the largest 1080p display in a smartphone to date, a 5.5-inch panel, offering a pixel density of 401ppi. And it’s the same display technology as seen in the Optimus G, a True Full HD IPS Plus panel, meaning it offers wide viewing angles, an extremely sharp picture and the colors are quite vivid – super-saturated, but not quite to the extent of a Super AMOLED display by Samsung. It’s no S-LCD3, but it’s still among the best displays available on a smartphone, especially at 5.5-inches.

Other specifications include a 1.7GHz quad-core Snapdragon 600 chip, 2GB RAM, 32GB built-in storage with a microSD card slot for up to 64GB additional storage, a 13-megapixel camera, 2.1-megapixel front-facing camera and a 3,140mAh removable battery. Other features include Wi-Fi b/g/n, NFC, Bluetooth 4.0 and an IR blaster.

The post Black color LG Optimus G is heading to market appeared first on Gizmochina.