LG’s G8 ThinQ went on sale April 11, and while it seems like a stellar smartphone on paper, its premium qualities are sabotaged by gimmicks like vein recognition and difficult-to-use hand-gesture controls.
That doesn’t mean people won’t buy the G8, especially because retailers such as Best Buy have slashed the list price of $820 by almost $200 at launch. But the G8’s middling reviews (and those launch-day discounts) should signal to LG that it’s time for the company to reevaluate its smartphone strategy or maybe stop making Android flagships altogether.
The division brought in KRW 1.51 trillion ($1.34 billion) in the first quarter of 2019, a 30 percent drop compared to the same period a year ago and the lowest level of revenue for LG Mobile in roughly eight years.
LG last November put TV boss Brian Kwon in charge of its mobile division in hopes that he could right the ship. The company said operating results improved from the previous quarter as a result of a stronger business structure, so there’s that.
The tech giant expects the LG V50 ThinQ 5G smartphone to create positive momentum in the second quarter. Additionally, moving smartphone manufacturing operations from Pyeongtaek, Korea, to Haiphong, Vietnam, should help boost global competitiveness while improving profitability, we’re told.
Revenue and operating income was down compared to 2018 but on a positive note, the company’s home appliance business reported record first-quarter sales and profits.
