LG’s ambitions for the year ahead is to overhaul its core businesses. This is the latest coming out of a report from the Korea Herald which details comments made by LG Group’s Chairman, Koo Bon-moo, to company executives. According to reported comments by Koo Bon-moo, LG should be able to overhaul its core businesses "by further accelerating the speed of the sophistication of our business portfolio”. Which in turn, Koo Bon-moo hopes will “nurture businesses for future growth". It seems the ambition to overhaul the businesses now is symbolic as this year also happens to be the year which marks the company's 70th anniversary.
However, there were no details provided as to what type, or to what degree, any specific overhauls were needed. Likewise, there were no details provided as to what businesses within LG in particular, need to be overhauled. Although, speculation will surround the smartphone business specifically, as this is one which has been the subject of much scrutiny and criticism of late and largely due to falling sales figures. In some respects, LG already did try to overhaul their smartphone business, as last year the company introduced what many consider to be the first smartphone to adopt module principles. This was the LG G5 and while being considered one of the first in the modular race to bring a product to market, the device did not prove to be a big enough seller and certainly not big enough to turn around what was already sliding sales for their mobile division.
Next month during MWC 2017, it is expected that LG will announce its next-in-line LG G series smartphone, the LG G6. While the LG G6 has yet to be announced, a number of rumors are already circulating on what will likely be on offer with LG's next-gen smartphone. Interestingly, this is already being penned as a smartphone that will overhaul the G-series once again, by undoing last year’s overhauling and removing its emphasis on modules. However, if Koo Bon-moo’s most recent comments are anything to go by, then it seems the LG G6 might not be the only turning point product that LG will look to introduce during the year, or the smartphone division being the only LG business unit which will be overhauled.