Sunday, September 19, 2010

LG Electronics - CEO Resigns

LG Electronics CEO Nam Yong has resigned the job according to the reports, taking responsibility for the company’s into poor performance and market share in the smartphones marketplace. Koo Bon-Joon will replace instead of Yong as CEO, according to a Wall Street Journal report. Last quarter, LG Electronics sales dropped 0.7 % compared to second quarter of 2009, and net profit declined by 33 %—partly due to weak point in the company’s smartphone lineup compared to rivals Apple Inc., Research In Motion Ltd., and Korean rival Samsung Group. LG is the world’s 3rd largest mobile handset maker after Nokia and Samsung.


Post a Comment