In a move to halt that downward trend, LG announced at CES 2018 that it's breaking away from the yearly launch cycle. Any new strategy at this point can only do good for the company: it's experienced nothing but revenue loss from its mobile division for the past eleven quarters.
LG hosted a press conference at CES 2018 where Vice Chairman Cho Sung-jin said that its models will stick around for longer then before, with more variants launching between new models.
While we found that LG particularly hit it out of the park with the V30 a year ago, the Korean company's smartphone division continues to report financial loses.
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"We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series".
LG is tipped to unveil its new G7 smartphone at Mobile World Congress next month.
LG's mobile communications unit is estimated to report a financial loss for the 11th straight quarter in the October-December period a year ago.
A number of smartphone manufacturers struggle to make a profit, and LG's one of those companies. Last year, LG did well on the budget phone category but not on the flagship category. "We plan to acquire small companies and invest in related business". It also unveiled serving, porter and shopping cart robots. It plans to expand use of the devices to hotels and supermarkets this year. It also showcased OLED TVs with Alpha 9 chips that it developed, which improved the devices' resolution.