LG to Shuffle Mobile Execs, Verizon Intros G5 Bogo
May 10, 2016, 7:37 AM by Eric M. Zeman
LG plans to shake up the executive ranks within its mobile phone business. The move comes on the heels of LG's first quarter report, in which the company's mobile phone business recorded its third straight loss. "We need to change the way we work to move faster and lighter," said Cho Juno, LG's CEO and mobile chief, in an email to employees. "Other business divisions also need people from mobile communications. We will continue to reshuffle personnel." The LG G5 flagship smartphone just recently went on sale and did not play a prominent role in the company's first quarter results. LG is forecasting second-quarter sales for the G5 of about 3 million. Juno said the company will trim staff in its mobile phone business unit so it can react quicker to changing market demands. Verizon Wireless recently rolled out a buy-one, get-one offer for the LG G5. In order to take advantage of the deal, new and existing customers must purchase two G5s on a monthly payment plan ($26 per month each for 24 months). After completing the purchase, customers can fill out a form to be reimbursed for the second device via Visa gift card. At lease one of the lines must be new. The bogo offer is good for a limited time.
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