LG Says It Will Release Two Flagship Phones This Year
LG today said it will introduce two high-end smartphones during 2016 to better compete with its rivals. The company believes the new flagship models and "a more cost-competitive value chain" will help it recoup profits and marketshare throughout the year. LG did not provide any details about these new phones, but it is highly likely the flagships will improve upon LG's G series and V series devices. LG reported its fourth quarter earnings today and said it generated a net profit of $301 million, a jump of 27% year-over-year that it attributes mostly to strong performance of its home appliance division. The company's handset division recorded revenue of $3.26 billion on shipments of 15.3 million phones. LG said it shipped 59.7 million phones in 2015 and saw improved sales in North America. LG has scheduled a press conference during the annual Mobile World Congress trade show next month. It is possible the company will announce new handsets at that time.
LG to Drop 'G' Branding for Next Flagship Phone
LG has confirmed plans to rebrand its line of flagship handsets. The company will drop the "G" naming convention that it has used since 2012 in favor of a new brand.
LG Pins Mobile Hopes On Forthcoming High-End Phone
LG today reported second quarter earnings and the news was mixed. While three of its four business units saw growth, its Mobile Communications Company saw flat income and an operating loss of $117.4 million.
HTC to Drop Entry-Level Phones, Focus On Profits
HTC plans to exit the entry-level phone market moving forward and will instead focus its handset portfolio on high-margin devices. The company made the comments during a conference call with media to discuss its fourth quarter financial results.
LG to Drop Annual Flagship Handset Refresh Cycle
In a shift of strategy, LG this week said it will cease bringing new flagship devices to market each year as it has done the last five or so years. “We will unveil new smartphones when it is needed.
LG Says New V Series Phone Coming Soon
LG today reported its second quarter earnings and took the opportunity to tease a forthcoming handset. LG's mobile business increased revenues 12% from the first quarter to $2.86 billion, but "somewhat slow" sales of its G5 flagship and the associated marketing costs led the unit to a loss of $132 million.