LG Axes Yearly New Phones, Switches To "As Needed" Basis

Adjust Comment Print

Yesterday, we reported on LG's apparent plans of delaying the announcement of its G7 flagship model to mid-March. However, it's also being seen as tacit recognition that LG continues to struggle to turn a profit from its phone division.

LG's Vice Chairman Cho Sung-jin confirmed during a press conference at CES 2018 in Las Vegas that the company is only going to release new smartphones when there's a need for it.

Asked about the launch plans for the LG G7, which is expected sometime in 2018, Cho refused to pinpoint an exact date.

While we found that LG particularly hit it out of the park with the V30 previous year, the Korean company's smartphone division continues to report financial loses. "But we will not launch it just because other rivals do", said Cho.

Instead, LG hopes to extend the lifespan of each of its phone designs. LG noted that it would release more variants, especially for the G or V series. Changing the strategy will "retain a good platform for a long time and concerns rise over the supply of lithium materials" as deemed important by the company. LG's scaling down isn't expected because usually, a brand needs to be more aggressive if it wants to get ahead.

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 past year that it would foster its robot business as a future growth engine. In the near future, it may even venture into robots and artificial intelligence.