Feeds

LG's CEO hangs up

Mobile crash

Next gen security for virtualised datacentres

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. ®

Gartner critical capabilities for enterprise endpoint backup

Whitepapers

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.
5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?