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LG to Drop Annual Flagship Handset Refresh Cycle

In a shift of strategy, LG this week said it will cease bringing new flagship devices to market each year as it has done the last five or so years. “We will unveil new smartphones when it is needed. But we will not launch it just because other rivals do,â€� said Cho Sung-jin, LG Electronics Vice Chairman, during the Consumer Electronics Show in Las Vegas. “We plan to retain existing models longer by, for instance, unveiling more variant models of the G series or V series.” The LG G6 is nearing its first birthday, while the V30 is not quite six months old. The company earlier said it will also change the naming conventions for these flagship devices going forward. LG’s mobile business has lost money 11 quarters in a row. Budget phones, rather than flagships, generate the bulk of LG’s mobile business earnings. The company is estimated to have lost about $650 million during the last three months of 2017. At CES 2018, the only phones on display at LG’s booth were last year’s V30 and V30+.

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