LG Throws In The Towel, Will No Longer Release Flagships Yearly

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 3 months ago '07        #1
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Jago 1066 heat pts1066
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LG Throws In The Towel, Will No Longer Release Flagships Yearly
 

 
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LG Electronics’ chief said it will no longer set a regular timeline to launch smartphones as it has done over the past years, in an apparent strategic move to help its struggling smartphone business, which has been losing money for 11 straight quarters.

“We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do,”
said LG Electronics Vice Chairman Cho Sung-jin on Wednesday during a press conference at the Consumer Electronics Show in Las Vegas. He was responding to a question on when the firm would launch its new flagship smartphone LG G7.

“We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series,” Cho said.

As for why the strategy on smartphones will be changed, the chief said, “We found it is important to retain a good platform for a long (time) and concerns rise over the supply of lithium materials.”

Although he did not mention the smartphone unit’s financial losses, the announcement appears to reflect the firm’s scale-down of its phone business amid slow growth in the global smartphone market in contrast to the firm’s flourishing appliances and other sectors.

LG’s mobile communications unit is estimated to report a financial loss for the 11th straight quarter in the October-December period last year.

The mobile unit was not able to make a turnaround last year, as the bulk of its earnings came from budget phones, not flagship models although its smartphone business reduced losses by more than 40 percent last year compared to the previous year, reaching around 700 billion won ($650 million) in losses.

Analyst Park Won-jae of Mirae a.sset Daewoo Securities predicted LG's smartphone business would once again fail to make a turnaround this year, although it would further reduce its losses to 184.7 billion won this year.

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 last year that it would foster its robot business as a future growth engine.

“The robot business is not profitable now and it is not a huge business for the time being. But we are raising its brand profile now and the business is expected to make profits in two to three years,” Cho said.

Many technologies are needed for robots and LG cannot do all that alone, he said. “We plan to acquire small companies and invest in related business.”

During the show, the firm exhibited its robot brand CLOi, which is an integrated portfolio of robots for information, cleaning and mowing lawns. It also unveiled serving, porter and shopping cart robots.

LG started to provide CLOi robots at Incheon Airport and Starfield Hanam, a large shopping mall in Korea, last year. It plans to expand use of the devices to hotels and supermarkets this year.

During the event, the tech firm also unveiled its artificial intelligence-powered TVs, the LG OLED TV ThinQ and LG Super UltraHD TV ThingQ, which allow users to control the TVs and search for content via voice commands by integrating LG’s AI platform DeepThinQ and Google a.ssistant. It also showcased OLED TVs with Alpha 9 chips that it developed, which improved the devices’ resolution.
visit this link LG to shift strategy on money-losing smartphone
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35 comments for "LG Throws In The Towel, Will No Longer Release Flagships Yearly"

 3 months ago '16        #2
StrawberryJam 1 heat pts
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$1,633 | Props total: 2126 2126
Can’t believe it took them this long to realize no one was buying their phones.
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 3 months ago '12        #3
ThePainkiller 354 heat pts354
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$72,409 | Props total: 27038 27038
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 3 months ago '04        #4
nwking 3 heat pts
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Ohh crap it's over for lg in the phone market. Love the TV's though
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 3 months ago '07        #5
six1twan 3 heat pts
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$1,025 | Props total: 239 239
The V30 ended it for them
 3 months ago '16        #6
Negusis 2 heat pts
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I'm a fan of the V series
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 3 months ago '04        #7
DJ Maximum|M 51 heat pts51
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That's why the v30 has a 2 year warranty on it

Makes sense
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 3 months ago '10        #8
catch22 17 heat pts17
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$1,694 | Props total: 856 856
iPhone 6, 6s, and 7 where all the same phones with 1 added/removed feature. Just follow that model.
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 3 months ago '14        #9
Greenghost2212 3 heat pts
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 StrawberryJam said:
Can’t believe it took them this long to realize no one was buying their phones.
They wasn't doing Galaxy numbers but I know a lot of n*ggas that actually like LG phones. Them bi*chs reliable.
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st21 slapped this ish
 
 3 months ago '15        #10
Kden 55 heat pts55
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 Greenghost2212 said:
They wasn't doing Galaxy numbers but I know a lot of n*ggas that actually like LG phones. Them bi*chs reliable.
Idk bout that they had to replace my g4 like 4x cuz of bootlooping. Couldn't wait to get rid of the piece of sh*t

But I will say aside from that huge fu*k up, the phone itself wasn't bad.
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 3 months ago '16        #11
Boogie1790 1 heat pts
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 Greenghost2212 said:
They wasn't doing Galaxy numbers but I know a lot of n*ggas that actually like LG phones. Them bi*chs reliable.
I had mine for like 9 months and its goin to sh*t. But sh*t a phone is a phone to me. As long as i can call text and go online im straight
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 3 months ago '15        #12
SouthsideNori 11 heat pts11
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Sad to hear I got a G6 and I like it, can't think of any drawback. A slighter better camera package would of helped tho.
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 3 months ago '07        #13
kakish 9 heat pts
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Smart move. You don’t make another product just cause a competitor is dropping. When you have a good new product then you drop it
 3 months ago '04        #14
CrAkKedOuT 984 heat pts984
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I'd be fine if all phone manufacturers took a year or two off to release new phones.
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 3 months ago '06        #15
LYTE 137 heat pts137
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 CrAkKedOuT said:
I'd be fine if all phone manufacturers took a year or two off to release new phones.
Word. It's not like the current model is so far advanced from the previous model from 12 months ago either.

They don't even have enough time to advance technology
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 3 months ago '16        #16
craze189 
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 Greenghost2212 said:
They wasn't doing Galaxy numbers but I know a lot of n*ggas that actually like LG phones. Them bi*chs reliable.
My V20 is a backup/in the House while my main jawns are charging phone these days but while it was my daily driver, that hoe never let me down. They did everything right with that phone, then undid half of it with the V30.
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 3 months ago '08        #17
flav 1 heat pts
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FINALLY LG gives up. It's about damn time.

They don't have the structure and outlook to afford to release yearly flagships, and in turn they keep hurting their brand. I understand there is a need to compete but what's the point of doing so if you release half-assed hardware, especially when the stability is into question ?

I used to repair phones for some time and LG has usually by FAR been the lowest quality hardware and worst in RND. Sorry but it's just the truth
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 3 months ago '07        #18
st21 1342 heat pts1342
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 Greenghost2212 said:
They wasn't doing Galaxy numbers but I know a lot of n*ggas that actually like LG phones. Them bi*chs reliable.
They were the opposite of reliable.
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 3 months ago '14        #19
Greenghost2212 3 heat pts
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 st21 said:
They were the opposite of reliable.
sh*t every LG i had fu*ked up because of screen cracks. Not nothing internal.
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 3 months ago '06        #20
dirtyalphaman 11 heat pts11
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$2,780 | Props total: 3160 3160
Hey, I love new phones tbh, but every year??? And Samsung is about to drop the S9 earlier than last year according to some sources. But why do we need one every year. I think theyre about to lose money with the S9 because they didn't too much with it. Apple too........How many people who had a 7 got an 8? And then a 10??? I am a Samsung dude through and through and I think the Note 8 is the best thing since sliced bread. But honestly, give me a little time to have the hottest sh*t before you upgrade or replace the model........
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