The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    People attempt to cut surging heating costs with creative solutions

  • 3

    BLACKPINK sets 6 more Guinness records

  • 5

    TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride'

  • 7

    Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities

  • 9

    More Korean manufacturers enjoy Georgia's hospitality

  • 11

    National pension anticipated to be fully drained in 2055: NPS

  • 13

    Superintendent of Seoul Education Office gets suspended jail term

  • 15

    Opposition leader Lee claims innocence in corruption probe

  • 17

    12 websites still unavailable after Chinese cyberattacks

  • 19

    Wall Street climbs to hit best level in nearly eight weeks

  • 2

    Senior US general warns of possible looming war with China

  • 4

    Jang Keun-suk steps out of his comfort zone with 'The Bait'

  • 6

    ENA's new dating show to spotlight young adult's romance

  • 8

    Bad weather disrupts operation of Jeju airport again after 3 days

  • 10

    Seoul to work with Hanoi to pursue peace on Korean peninsula

  • 12

    Korea's rice consumption hits another low in 2022: data

  • 14

    SK E&S retains gov't support for Barossa gas project in Australia

  • 16

    Police to build disaster prediction system to prevent recurrence of Itaewon tragedy

  • 18

    Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event

  • 20

    LGES to capitalize on US IRA, Tesla partnership to continue record earnings

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Sun, January 29, 2023 | 02:34
LG trying hard to fill smartphone gap
Posted : 2010-06-09 18:10
Updated : 2010-06-09 18:10
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Electronics giant planning to unveil 20 models

By Kim Yoo-chul
Staff reporter

LG Electronics CEO Nam Yong was deemed an agent of change promising to bring a razor sharp, Samsung-like competitive edge to the conglomerate.

Nam’s promise is still hanging on but barely considering the firm’s current dismal performance. This month, the LG CEO has another chance to convince his boss Koo Bon-moo, the LG chairman, that his way is the right way.

Koo is expected to conduct an overall review of his conglomerate this month.

Koo retained Nam to keep his post, asking him to strengthen the existing business portfolios and find new growth engines. That was late last year.

So far, the 61-year-old CEO, who had worked as secretary to Koo Ja-kyong, Bon-moo’s father, is obviously trying but is falling short in positive results.

It is a matter of course that this doesn’t mean Nam’s job is in jeopardy, considering LG’s tradition of not easily firing its employees. But the writing appears to be on the wall.

Stocks of LG Electronics were underperforming, compared to the nation’s benchmark index KOSPI. LG is lagging behind its overseas rivals even in ``next cash-cows’’ such as the rapidly growing smartphone and 3D television businesses.

Nam was rarely spotted at LG’s headquarters after he participated in an industry forum in mid-April, LG officials say.

This makes industry watchers pay extra attention on how Chairman Koo is going to move.

“Chairman Koo is a laissez-faire boss, giving a great deal of discretion to his subordinates. But Koo, like any other boss, still keeps a close tab on the bottom line,” an LG executive said.

Koo is listening to updated strategies from all the top-level executives. LG International will be first and LG Electronics will report to Koo in the third week of this month, Jerry Kim a company spokesman said.

Earlier, Nam said the electronics unit will focus on the keyword ``openness’’ as LG Electronics has to exhibit less restriction at a time when the industrial paradigm is drastically changing because of technology convergence and innovation.

Accordingly, LG has identified its future growth engines and committed to invest in areas such as solar power and commercial air conditioners. LG also said it would continue to develop its core businesses including mobile phones and televisions

One of the key tasks facing Nam is to revive the lagging momentum of its smartphone business, analysts and watchers say.

On top of that, LG is being called on to improve technological developments in its stronghold of home appliances such as 3D TV.

Recently, LG was getting in trouble over safety glitches with its drum washers. In Australia, its excessive marketing schemes to sell energy-efficient refrigerators to regional consumers cost them.

Months ago, LG dropped its plan to export 15,000 units of its 3D TVs to the U.K. and its INFINIA-branded 3D televisions are showing meager results.

But the real problem lies in its smartphone competitiveness. Mobile business takes up 45 percent of LG Electronics’ annual sales but its smartphone business lacks the ingenuity of Apple’s iPhone and aggressiveness of Samsung’s Galaxy.

Operating profit rates for LG’s mobile communication unit, dropped to 0.9 percent in the first three months of 2010 from 6.7 percent a year ago, LG said in a regulatory filing.

LG said it was planning to launch 20 sets of smartphones that are based on Google-powered Android mobile platforms by the end of this year.

Its chief financial officer has admitted that LG needs ``some more time’’ for a turnaround in its smartphone department, citing the lack of preparedness.

Officials say the second quarter would be fair for the home appliances and television divisions, while its handset division will see another ``disappointing quarter.’’

``The smartphone sector is a significant business that LG should not lose as such devices could create new mobile eco-systems, giving more room for handset makers to seek future revenue sources. LG needs consistency towards that segment,’’ another industry watcher said.

LG has already shipped some of its smartphones to the United States via Verizon Wireless. The company has also been in talks with several mobile carriers in the Middle East region to introduce more Android phones, though Kim of LG was mum.

``LG should turn itself into a fast mover, rather than remaining as a fast follower, with more advanced technologies instead of just focusing on marketing and organizational changes,’’ said Chung Seung-hoon, an analyst at Eugene Investment.
Emailyckim@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1People attempt to cut surging heating costs with creative solutions People attempt to cut surging heating costs with creative solutions
2Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities
3More Korean manufacturers enjoy Georgia's hospitality More Korean manufacturers enjoy Georgia's hospitality
4Seoul to work with Hanoi to pursue peace on Korean peninsula Seoul to work with Hanoi to pursue peace on Korean peninsula
5Superintendent of Seoul Education Office gets suspended jail term Superintendent of Seoul Education Office gets suspended jail term
6SK E&S retains gov't support for Barossa gas project in Australia SK E&S retains gov't support for Barossa gas project in Australia
7Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event
8LGES to capitalize on US IRA, Tesla partnership to continue record earnings LGES to capitalize on US IRA, Tesla partnership to continue record earnings
9KT&G aims to become global top-tier company KT&G aims to become global top-tier company
10Middle East 'sales diplomacy' picks up speed Middle East 'sales diplomacy' picks up speed
Top 5 Entertainment News
1BLACKPINK sets 6 more Guinness records BLACKPINK sets 6 more Guinness records
2Jang Keun-suk steps out of his comfort zone with 'The Bait' Jang Keun-suk steps out of his comfort zone with 'The Bait'
3Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film
4Kim Hyun-joo says humanity is at heart of action film 'Jung_E' Kim Hyun-joo says humanity is at heart of action film 'Jung_E'
5TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride' TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride'
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

wooribank
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group