The global smartphone market is very competitive and there are numerous instances of it chewing up companies that were once behemoths in this market and spitting them back out, Nokia and BlackBerry being two prime examples, and if companies want to avoid a similar fate they have to be very smart about the way they run their mobile business. LG’s mobile division lost money in Q1 2016 and to plug future losses, the company says that it’s working to create a “faster and lighter” mobile division.
The Korea Herald reports that LG CEO Cho Juno, who also happens to lead the mobile business, has sent out an email to employees telling them that the company needs to change the way it works “to move faster and lighter.”
The CEO also said that other business divisions within LG need people from the mobile division which is why LG is going to continue to reshuffle personnel between the different divisions inside the company.
LG’s mobile business has had three consecutive quarters in the red so naturally there’s concern in the company as well as on the street. The company is now looking to streamline its organization as well as reduce staff so that it can effectively keep up in this competitive market.
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