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LG's Struggles Continue, Looks to Google for Hit |
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LG's Struggles Continue, Looks to Google for Hit
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Wed Jul 28, 2010 1:24 pm
LG Electronics today said it lost money for the first time in four years, as the embattled handset maker struggles to turn around its mobile business and come up with a blockbuster phone.
The South Korean company is betting on Google's Android software to save its sales, by launching smartphones running the mobile operating system through 120 carriers worldwide this quarter.
"We believe smartphone market will become a mass market and our strategy is to boost market share first with mid-end models such as Optimus series we are planning to launch this quarter," said Jung Do-Hyun, LG's chief financial officer.
LG has struggled since a year ago, following a series of stumbles in smartphone development. It is also facing increased competition from smartphone specialists Apple, HTC and Samsung -- largely failing to come up with a hit device to go toe-to-toe with the iPhone or Galaxy S smartphones.
"Our handset business will continue to experience difficulties in the third quarter and would start recover from the late fourth quarter," Jung said. "LG will continue to introduce new products in major categories, including smartphones, while investing aggressively in research and development and marketing and developing premium products."
LG, the world's third-largest phone maker, posted a $721 million profit for the April-June quarter, down from compared to $1.1 billion a year ago.
More News: LG (121) | Reports (219) | Android (160) |
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Mon Jul 05, 2010 3:51 pm
LG said it plans to launch an Android-based tablet computer at the end of this year, a move the company hopes help it gain ground in mobile devices and compete against market leader Apple.
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Wed Jun 02, 2010 8:56 am
LG Electronics plans to launch the GU292, a push-to-talk phone with music capabilities, for AT&T in the coming weeks.
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Wed Jun 02, 2010 7:50 am
T-Mobile plans to sell a trio of phones from LG Electronics, the Sentio and dLite with social-networking capabilities and the GS170, marking a new partnership between the two companies.
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Mon May 24, 2010 7:16 am
AT&T said it plans to launch the LG Vu Plus, a television-capable phone with a touch screen display and slide-out keyboard, starting on June 6 for $150 with a two-year contract.
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Mon May 24, 2010 6:16 am
Verizon plans to sell the LG Fathom, a Windows Mobile smartphone with a touch screen display, slide-out keyboard and global roaming capabilities, next week for $150 with a two-year contract. |
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