Feeds

LG's CEO hangs up

Mobile crash

Eight steps to building an HP BladeSystem

The curse of the iPhone continues. A week after Nokia dispensed with its CEO, so has LG Electronics. Nam Young has resigned to make way for Koo Boon-joon, a member of LG's founding family and younger brother of LG Chairman Koo Bon-moo.

LG is the third largest mobile phone company, but profits have changed to steep losses over the past year. In Q2, LG's mobile phone division lost KRW120bn on sales of KRW3.3tn, with revenue falling 30.8 per cent year-on-year in Q2. The company blamed average selling price decline as the market was flooded with undistinguished touchscreen phones. Q3 results are imminent.

Strong growth in flat panel TVs and displays (it supplies components for the iPhone) have offset the fall in mobile profits, but mobiles makes up almost a third of the giant chaebol's income.

If you thought Nokia's performance has been lacklustre, remember that it still makes a profit from its mobile phones division. It was in a far worse position back in 1992 as a sprawling, unfocused and barely creditworthy conglomerate - a sort of Finnish chaebol - than it is today.

But like everyone else, it's seen RIM and Apple scoop up what profits there are to be made in the phone business, and without profit, there's no point being in the business. ®

Securing Web Applications Made Simple and Scalable

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
Bring back error correction, say Danish 'net boffins
We don't need no steenkin' TCP/IP retransmission and the congestion it causes
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.