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LG looking for phone partnerships, LTE phones to become half of LG's portfolio

Posted: , by Victor H.

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LG looking for phone partnerships, LTE phones to become half of LG's portfolio
LG has been one company struggling to find itself in a congested Android market in 2011, but it’s actively looking to change that and is in talks with other companies over possible partnerships. 

The South Koreans are dedicated not to leave their mobile loss-making unit and are looking to put it back to profitable.

"Some of the talks are quite active...but one thing that does not change is that LG is very committed to the mobile business... Our recent rights offering was mainly aimed at investing in handsets, and that proves it," LG's mobile communications business chief executive Park Jong-seok said.

The company recently raised nearly $1 billion to fund its hurting cell phone business which lost approximately as much over the last two quarters. But the outlook is positive - LG has launched its 4.5-inch Optimus LTE high-end model which is recording fine sales of around 500,000 units so far. That number is expected to grow to 1 million by the end of this month.

"Earnings will get better this year, as we plan to raise premium phones, mainly LTE models, to more than half of our smartphone lineup,"  Park added.

Currently, LG is competing with LTE handsets manufactured by Samsung, HTC and most recently even Nokia. LG’s strength however is also in LTE patents as LG estimates it has $8 billion worth of them. The company has switched its focus from establishing itself on the Android scene with more affordable devices like the LG Optimus One in 2010 and early 2011, to higher-end, more profitable models and the changes are expected to show up in 2012.

source: Reuters

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posted on 12 Jan 2012, 08:13 5

1. arcq12 (Posts: 733; Member since: 13 Oct 2011)


LG definitely makes higher quality phones than Crapsung.. they just lack after sales support and they need better marketing strategy..

posted on 12 Jan 2012, 08:37 2

2. bloodline (Posts: 691; Member since: 01 Dec 2011)


thats funny because i cannot name one good lg phone.

Good luck to them tho, 2012 is going to be a make or break year for

LG
Sony
Motorola

and nokia (obviously not part of android)

posted on 12 Jan 2012, 10:29 2

3. jamrockjones (Posts: 345; Member since: 26 Oct 2011)


Motorola is doing fine and the new LG Spectrum and LG Nitro are sick!!! I can agree they've focused more on affordable smartphones, however with the exception of a few phones the most of them are very well built.

posted on 12 Jan 2012, 10:43

4. Jericho (Posts: 302; Member since: 12 Nov 2011)


I like it crapsung. Love lg and sony. Good to see they will change their style. Because lg releases good phones but people don't wanna buy it because it's lg and the people who buy smartphones are too creative and the just wanna buy apple or samsung.

posted on 12 Jan 2012, 14:26

5. GeekMovement (Posts: 1499; Member since: 09 Sep 2011)


Never was a fan of LG, but hope they will change that this year. I'm thinking 2012 will be a big year for Nokia and Sony. Samsung is not crapsung just because it's made of plastic. Samsung produces very nice phones, maybe not premium quality build, but at least it's just as effective and useful if not more.

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