A new strategy to cope with 11 quarters of consecutive losses.
While Samsung and Apple dominate the global smartphone market, LG continues on its never-ending struggle. The company’s mobile division has been losing money for 11 consecutive quarters at this point, and in an attempt to try and fix this, LG’s Vice Chairman, Cho Sung-jin said that the company will be shifting away from releasing new flagship phones every single year.
As a response to a question regarding the LG G7, Sung-jin said:
We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do. We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series.
A few days before this, a spokesperson for LG said that the company would be ditching its G-series branding in favor of something new for the G7 in an effort to help boost sales. Sung-jin’s mention of the G-series has us uncertain what’s going on with the name of the phone, but no matter what happens there, this is a big change for LG.
Yearly flagship releases have become a norm of the industry, and in some cases with companies like OnePlus, a bi-yearly thing. We aren’t sure what to expect from “more variant models” of LG’s phones, but supporting current models for longer than other companies is something that we’re sure some our readers will be able to get behind.