LG Seeking Cash to Keep Phone Business Afloat
Article Comments 3
Nov 3, 2011, 7:51 AM by Eric M. Zeman
Phone maker LG is looking to raise as much as $945 million to bolster its ailing smartphone business through a new rights offering of its stock. LG has lost share in the smartphone market to the likes of Apple, Samsung, HTC, and others, and its smartphone business has lost nearly $1 billion over the past six quarters. "The rights offering is aimed at securing ample resources required to improve competitiveness of our core businesses. We'll continue to invest in our core businesses including smartphones, to regain our initiative," LG said in a statement. The company indicated it would rather not take on more debt and believes the rights offering is the way to go. In response to the announcement, LG's stock price dropped another 14% today in trading sessions across Asian indices.
Feb 9, 2022
Samsung today announced its lineup of flagship phones for 2022: the Galaxy S22 series. The top-end S22 Ultra sees the biggest changes as it essentially absorbs Samsung's Note series with an integrated S Pen stylus and a more Note-like shape and design, instead of the Contour Cut design of the other models.
Sep 7, 2022
Apple has revealed the iPhone 14 series, with new features, improved specs, and new size options. In place of a Mini option, the iPhone 14 will come in the same 6.1-inch and 6.7-inch screen size options as the Pro models.
Jan 14, 2021
Samsung today officially unveiled its Galaxy S21 series of flagship phones for 2021. All three models sport a distinctive new "Contour Cut Camera" design where the metal frame extends around one corner to surround the rear cameras.
Mar 23, 2021
OnePlus today announced the OnePlus 9 and OnePlus 9 Pro, its newest flagship phones. The 9 Pro is a true flagship-class phone with a QHD AMOLED display with variable refresh from 1 to 120 Hz, and IP68 water rating, starting at $969.
Maybe if there were a reason to buy their smartphones