Here's how LG hopes to turnaround their mobile business in Q2
LG expects 5G phone and factory change to help turnaround mobile business in Q2
LG just announced its Q1 2019 financial results and things are looking slightly better for its mobile business.
The mobile business unit managed to narrow its quarterly operating loss to US$181.05 million while LG continues its restructuring. LG expects positive momentum for the mobile business in Q2 from the launch of the V50 ThinQ 5G smartphone and the relocation of its smartphone manufacturing center.
The V50 ThinQ 5G was one of the three phones announced at MWC 2019 in February. It has a 6.4-inch QHD+ notched display, penta-camera setup (three on the rear, two on the front), Qualcomm Snapdragon 855 and a 4,000mAH battery.
LG also relocated its smartphone manufacturing center from Pyeongtaek, Korea to Haiphong, Vietnam to make use of the "abundant labour force" to boost production capacity to 11 million handsets from Q2.
The company hopes that the launch of the V50 ThinQ 5G smartphone and factory relocation will help improve profitability and its global competitiveness.