In addition to all the products that LG has announced at CES, the company also announces in an interview that it is changing the strategy regarding new smartphone releases.
LG at CES: Change in Strategy
LG has announced a lot of things at the Consumer Electronics Show in Las Vegas, the smart speaker LG ThinQ WK9 with Google Assistant and touchscreen, the LG V30 in pink color, artificial intelligence (called LG ThinQ), smart kitchen equipment, and much more. Besides all announcements of smartphones and other products during the CES in Las Vegas, a fair like this is also an excellent place to hold interviews. The Korea Herald did so with the LG CEO Cho Sung-jin.
The Korea Herald asked the CEO in the interview when the next LG flagship is coming on the market, to which Sung-jin replied:
“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.”
The CEO indicates that new models in the G-series and V-series are still on the schedule, but until then they will keep releasing more variants of the LG G6 and LG V30 as they did by releasing the LG V30 in Pink.
According to LG, a shortage of lithium is the cause of the change in strategy, but sources indicate that the new strategy has to do with declining sales in recent years. We know that all departments within LG make a profit, except the mobile department. The first flagship of 2017, the LG G6, did not provide the sales success that LG’s smartphone division had hoped for.
With LG V30, LG did everything right but it was also overshadowed by the iPhone X and Samsung Galaxy Note 8. Now, the main reason for LG’s failure is the delayed releases in various markets and poor marketing.