LG’s CEO hopes to make the company’s mobile business profitable by 2021.
During a press conference at CES 2020, Kwon Bong-seok, the company’s CEO, said that “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.”
Bong-seok hasn’t mentioned what he means by “wow factors,” though over the last few years, the South Korean company has tried touchless navigation, palm unlocking, and dual screens in its devices, but none of these features seemed to have gained any traction.
At the beginning of 2019, LG announced a loss of $72.5 million USD ($94 million CAD), reports Engadget, and even halfway through the year, the company announced that it was still operating at a loss. Last year LG hoped the addition of 5G could turn things around, though it’s unclear if it did, as the company has yet to reveal its earnings for its fourth quarter.
Recently, renders of the LG G9 leaked showing off an average-looking LG smartphone.
If LG is following the same release pattern as it did 2019, the company will launch two new smartphones next month at Mobile World Congress (MWC), both a G-series device and V-series handset.
Recent LG patents revealed the possibility that future smartphones from the company could fold multiple times or feature an attachable display that turns the device into a tablet — perhaps these patents are Bong-seok’s proposed “wow factors.”