LG’s last year performance was quite impressive and it was quite a contrast compared to its other South Korean counterpart, Samsung. In fact in the third quarter alone they have made US$163 million (MYR587.24 million) from an official revenue of US$4.14 billion (MYR14.92 billion). In the third quarter as well they managed to move about 17 million devices out from their warehouses. So from this alone we can conclude that LG is definitely doing the right things or doing things right to get to where they are now. The thing is though this year onwards LG’s board has chosen someone else to lead the helm of LG Mobile.
Things were good in LG under the lead of Dr. Park Jeong-Seok. In fact they have been doing so well that the official numbers for the year 2014 has proven that LG shipped out nearly 60 million smartphones, to be exact they shipped about 59.6 million units of smartphones last year alone. Compared to 2013 when LG shipped about 47.6 million smartphones, it is a very significant 25.2 percent increase in shipments. So much that it actually made LG the fourth largest smartphone vendor in the year 2014 among leaders like Apple, Samsung, and Xiaomi.
With those results there seems to be no reason for a change in the leadership of LG Mobile, unlike Samsung which just went through a bad third quarter. The current CEO, Dr. Park was moved to the role of Chief Technology Advisor while Juno Cho was moved from his previous position of LG Corp. President to replace Dr. park as the CEO of LG Mobile.
So why the move? Apparently in the year 2000 up until 2007 Juno Cho was leading the charge in LG Mobile through his role in leading the business strategy division which includes sales and marketing of LG Mobiles products with some impressive results as well before moving on to become president in LG Corp. That reputation is testament enough for him to now lead LG Mobile into the future. The board believes that as well and bets that Cho will continue maintaining their current momentum as the new CEO of LG Mobile.
With a great year last year LG has managed to turn plenty of heads around and definitely caught the attention of many other suppliers. Their stride has caught Google’s eye as well and has allowed them to manufacture Google’s pride, the Nexus line for two consecutive series. That alone also has proved to the world that they can make a premium quality smartphone with premium quality finish. We at techENT are expecting great things from LG and know that they are capable of it. With a new CEO at the helm we are also expecting LG to have a new sort of direction and maybe reach new heights in their own industry. With tight competition from Samsung though it will not be easy for them but we have a whole year to watch them perform. So sit tight everyone and look out for LG’s big moves this year.