After six years of losses, LG might finally call it quits.
On Wednesday, LG CEO Kwon Bong-seok sent a message to company staff saying LG's smartphone division has to change, The Korea Herald reported. And according to an unnamed LG official, this could mean withdrawal from the smartphone business, as well as selling or downsizing the company's mobile division.
“Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice," the official told the outlet.
Bong-seok told the staff that, regardless of the choice LG makes regarding the smartphone division, there will be no layoffs.
An LG spokesperson confirmed the news to The Verge, though they did say that "nothing has been finalized" yet.
SEE ALSO:LG's new OLED display goes from flat to curved for gamingThis comes at no surprise to anyone who read any of LG's earnings reports since 2014, which was the last time its smartphone division turned a profit.
In January 2020, Kwon Bong-seok promised the LG's mobile division will return to profitability by 2021. That hasn't happened; the mobile division has experienced considerable losses throughout the year.
Despite the poor financial performance, LG has launched a number of interesting products in the past decade, including the quirky, modular LG G5, the dual-screened LG G8X, and the swiveling LG Wing. The company recently announced a rollable smartphone, scheduled to launch sometime in 2021.
(责任编辑：綜合)
Satisfy your Olympics withdrawals with Nike's latest app
The redesigned Google Earth works directly in Chrome
Campus vending machine does you a solid by selling condoms, pregnancy tests
Salt Bae just voted in the most Salt Bae way possibleWhatsApp announces plans to share user data with FacebookNew Zealand designer's photo series celebrates the elegance of aging
Not only is age nothin’ but a number -- it can be a asset when it comes to style. 。 That’
...[详细]Apple is secretly working to revolutionize how we treat diabetes
Personal computing, phones, watches, and ... diabetes?Cupertino-based Apple has over its 41-year lif
...[详细]You can get a sneak preview of Kendrick Lamar's new album — via LeBron James
Kendrick Lamar's hotly anticipated new album, DAMN., is scheduled to release Friday. For mere mortal
...[详细]Phone company shuts down troll in the most spectacularly blunt way
It's been proven time and time again that messing with Tesco Mobile on Twitter is a bad idea.People
...[详细]The five guys who climbed Australia's highest mountain, in swimwear
Climbing a freezing cold mountain is already hard enough work. But in briefs? Nope.
。It's too late fo
...[详细]Campus vending machine does you a solid by selling condoms, pregnancy tests
A student at U.C. Davis figured out how to make vending machines more awesome than they already are.
...[详细]Internet reminds politician that no, actually, slavery was the worst
When a person must be reminded that the United States enslaved and terrorized millions of black peop
...[详细]Sweet kid breaks down with joy after dad surprises him with Cubs tickets
When you love a team, there is nothing quite like seeing them in person.The parents of 9-year-old Ko
...[详细]These glasses hide a fitness tracker on your face
The last time a company tried popularizing wearable tech embedded in glasses, most notably with Goog
...[详细]Let Justin Trudeau lull you to dreamland with his mesmerizing Earth Day message
Justin Trudeau is here to lull you to sleep, and wish you a happy Earth Day. The Canadian prime mini
...[详细]
