Plans to keep existing models for longer
Though its upcoming LG G7 is still expected to make an appearance this year, LG has announced that it will no longer strictly adhere to a regular yearly cycle for its flagship smartphone releases, as reported by The Korean Herald.
“We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do,” said LG Electronics Vice Chairman Cho Sung-jin when asked about the LG G7 this week at CES 2018.
Cho continued, “We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series.”
The move has been described as a strategic one, as the company’s smartphone business is expected to announce a financial loss for the 11th straight quarter.
Cho did not comment on the division’s financial losses however, instead citing concerns over “the supply of lithium materials” and the need to “retain a good platform” as key factors in the decision.
The news comes shortly after LG’s announcement that its mobile team would receive a huge overhaul late last year, including a drastic shake-up of its executives.