LG announces desperate move in latest attempt to save its smartphone business

What's different about this latest strategic change compared to the umpteen similar announcements in the past is that LG plans to put its money where its mouth is for once. Or rather keep some of the money it used to throw out the window on largely unsuccessful and completely unprofitable "low to mid-end smartphones."
The goal is to better compete against the likes of Huawei, Xiaomi, Oppo, and Vivo, which have been eating away at the sales numbers of OEMs (original equipment manufacturers) like LG, HTC, or Sony for several years now with cheaper and oftentimes superior products.
Strictly speaking from a low to mid-end market perspective, however, analysts are not particularly optimistic about LG's chances of finding success anytime soon, pointing to the far superior marketing skills (and deep pockets) of the aforementioned Chinese handset vendors as a key differentiator.
LG was ranked ninth overall in global smartphone shipments during Q3 2020 by Counterpoint Research, mind you, being surpassed by everyone from Samsung to Huawei, Xiaomi, Oppo, Vivo, and Realme while posting a mobile department financial loss for the 22nd (!!!) consecutive quarter.
Clearly, desperate times call for desperate measures, but it remains to be seen if this specific move will prove inspired enough to right LG's slowly sinking ship.