ET, a Korean news publication recently reported that LG was shifting its focus and resources from smartphones to televisions. LG’s response was swift, they said the report was completely unfounded and couldn’t be further from the truth. LG stated that they feel their products produced in 2013 speak for themselves and that they are more committed than ever before to be a “major player in the mobile space”.
A spokesperson fromHelpingu2save said: “LG has been out of the mobile game for a while, with Apple, Google and now Microsoft entering the game, they are going to have to come up with something very unique in order to stand out”.
This wouldn’t be the first time a company has been the victim of poor reporting from Korean press. Some stories accused of being completely unfounded and made up. The Korea Herald recently stated that ARM, a mobile chip designer, was working on a 128-bit processor. ARM dismissed the rumour and told that a chip such as the kind reported wasn’t needed.
LG seem far from the story ET claims, in fact last quarter they made a 157.1 billion profit which has been largely based on the sales of LTE-enabled smartphones. A nine percent increase in sales meant that the company sold more than 14 million handsets. In fact the Nexus 5, a Google phone made by LG is a hot item and has meant that LG definitely have their foot in the smartphone market. Impressive statistics from a company who went from being the third biggest mobile phone maker to reporting a loss less than a year ago following competitors such as Apple and Samsung having the lions share of the market for so many years. It seems that consumers are becoming savvier phone buyers than before and are not just going for the familiar or popular, but are doing their own research and finding which smartphone will work best for them. This can only be good news for the company investing so much into the mobile business.