If this happens, this would mean that the company's mobile division will be in the red for the 11th straight quarter. "We will unveil new smartphones when it is needed", Cho pointed out. "But we will not launch it just because other rivals do", he said.
The annual smartphone race has apparently reached an end for LG, with Vice Chairman Cho Sung-jin confirming they will no longer release phones on a yearly basis, instead switching to a strategy of releasing phones "as needed". The executive further added that the plan is to retain existing models longer by unveiling more variants.
Whatever the reasons, LG will be slowing their release schedule, but we should still see a release of the LG V7 at Mobile World Congress late next month. LG has therefore chose to stop releasing flagship smartphones on an annual basis like it has been doing for so many years in tandem with rival Samsung.
A number of smartphone manufacturers struggle to make a profit, and LG's one of those companies.
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. It never confirmed the mobile business is down but we know it's not making any money. After all, it has been available South Korea since last June but has yet to leave the comforts of LG's home country. It also showcased OLED TVs with Alpha 9 chips that it developed, which improved the devices' resolution.
Head of JIT formed to probe rape, murder of Zainab changed
Her body was found in a rubbish heap more than a mile from her home in Kasur, close to the border with India, on Tuesday. Riots erupted across Kasur on Wednesday with protestors chanting slogans against police and seeking justice for Zainab.