The report, in the Korea Economic Daily, did not cite its sources, but said that the cuts mainly interested expressive marketing and purchasing jobs as well as the shuttering of some losing outlets. The appear added that LG is expected to assemble alike moves in its native business. "The occurrence is that there was no such action taken at LG remotely like to what was reported…and there's no hint that there will be any," LG spokesman Ken Hong told FierceWireless. "We are always looking at ways to upgrade the carrying-on of our nimble business.
Cutting one-third of our staff, however, isn't one of them." LG's motorized phone corporation has been generating operating losses for the defunct five quarters. LG shipped 24.8 million unconditional handsets in the advance quarter, up from 24.5 million in the maiden area but down from 30.6 million units in the year-ago quarter.
In July LG said it expects to transfer 24 million smartphones this year, down from a foregoing end of 30 million units; the corporation expects to furnish 114 million handset units overall, well below its aforementioned quarry of 150 million units. LG CFO David Jung said in previous July that the caller will persevere to truncate its feature phone construction as it shifts its focus to high-end smartphones even if that leads to a dip in overall element shipments.
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