27 January 2020
It is a well documented and much-reported fact that LG's smartphone business has been struggling for years now. It is not like it has not released smartphones but none of them have managed to make an impact. This is something even LG acknowledges and is now working towards changing the same.
Kwon Bong-Seok, Chief Executive Officer at LG Electronics, told reporters in Korea that LG's smartphone business will turn profitable by the end of 2021. He did not offer exact details about what the road plan is for achieving the goal. The only thing he mentioned is that they are looking to expand the mobile lineup and offer "some wow factors" to attract buyers.
Here is what Kwon told reporters,
"LG Electronics mobile business is going to be profitable by 2021. I can say we can make that happen as LG Electronics will expand our mobile lineup and steadily release new ones attached with some wow factors to woo consumers".
Even though it is hard to say what exactly "wow factors" mean but seeing its few recent launches, we can make some guesses. We have seen LG trying out new things with its smartphones which are usually not available on other phones. It released LG G5 flagship with modular capabilities. It came with a bunch of modular accessories that were sold separately and allowed users to enhance the phone's usability.
It is currently busy focusing on dual-display capabilities for smartphones. The first release with the approach was LG G8X ThinQ that came with an optional accessory that added a second display to the phone. It offered the same functionality with the LG V50S ThinQ and is now said to repeat the same with the upcoming LG V60 ThinQ 5G. It is safe to say that the approach has failed to attract buyers in huge numbers and we will have to see whether that will change in the near future.