The year of 2016 has seen the release of some pretty incredible smartphones. The Galaxy S7 resolved everything that was wrong with the S6, the new Moto Z line introduced the world to Moto Mods, and the OnePlus 3/3T set the standards for what to expect from a smartphone for around $400. All of these handsets saw a great deal of fanfare, but when looking back at 2016, one company that didn’t see that much success is LG. The company released two flagship phones this year – the G5 and V20 – but neither of them turned out to be major hits. The former introduced a lackluster modular platform, whereas the latter was announced and released during the same time period of the Apple iPhone 7. These actions resulted in LG being faced with a 23-percent loss in sales this previous quarter as compared to where they were that same time in 2015, and in an effort to try and breathe new life into the company’s mobile division, LG has announced that they’ve appointed a new CEO to take charge of things.
The new CEO is Jo Seong-jin, and Seong-jin will be overtaking the current structure that LG has in which three different CEOs currently manage the company’s mobile department. Up until this point, Jo Seong-jin has been the head of LG’s home and appliance section. Seong-jin has had this position since 2013, and during his time there, he was able to increase the department’s profit by 25-percent back in 2015.
It’s quite obvious that Seong-jin knows what he’s doing, and that’s probably for the best. LG’s mobile division has been in trouble for quite some time, as it’s been reporting quarterly losses ever since the second quarter of 2015. That means LG’s mobile sector hasn’t turned a profit for six consecutive quarters, so a change in the CEO certainly does seem like the right move to make.
As per an official statement by LG –
LG’s mobile department has been facing losses for 6 consecutive quarters.
Next year should see the release of devices like the GG and V30 from the company, and with a new CEO to take charge of the company’s mobile projects, here’s to hoping that LG can wow us once again like they were able to in years past.
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