In the first quarter sales of smartphones Korean brand fell by 30%. The position plan to save the release of new models.
Once LG has been at the forefront of mobile technology. The company has created the first smartphone with a dual-core processor, and the Optimus Black model had the brightest screen among the competitors. Today, smartphones are not surprising – and it affects sales.
As reported by analysts in the first quarter of this year, LG’s mobile division brought in only $1.34 billion, which is 30% lower than last year. This makes LG Mobile loss-making division that exists due to the successful sales of other products of the company.
It is worth noting that at the end of last year, LG Mobile was led by Brian Kwon, who has developed a new strategy unit. She’s probably not earned, as evidenced by the loss of profits of $181 million. The company’s management had hoped to update the model range, but the new items did not help – LG Mobile is suffering losses even after the release of the flagship smartphone G7 Thinq.
The company hopes for a rematch with the start of sales of the G8 Thinq, but experts have met new restrained reviews. Analysts believe that the new product from LG has decisive advantages over the more affordable devices.