South Korea’s LG Electronics Inc said on Monday it plans to start selling a new premium smartphone from September, hoping the device will help its struggling mobile business recover from disappointing sales.
LG said its V20 device, successor to the V10 that went on sale in October last year, will be the first product to run on Google’s latest version of its Android mobile operating system called Nougat at launch. The company did not disclose further details on the V20.
The firm has two main premium phone series and its G5 phone, launched in March, has had weaker-than-expected sales following initial production difficulties. As a result, the South Korean firm’s mobile business reported its fifth straight quarter of operating loss for April-June.
The company said last week the launch of new products, including a successor to the V10, will help its performance improve in the third quarter. Rivals are also pushing new devices to market soon, however: Samsung Electronics Co Ltd will unveil its next Galaxy Note smartphone on Wednesday, while Apple Inc is expected to launch new iPhones in September.
© Thomson Reuters 2016