- LG informed that it will be holding separate events in the near future to announce its 2020 mobile products
- The Mobile World Congress is scheduled for this month in Barcelona, Spain
LG Electronics has withdrawn its participation from the Mobile World Congress (MWC). The company said that it is closely monitoring the situation related to the novel coronavirus outbreak. This virus outbreak was recently declared a global emergency by the World Health Organization as the it continues to spread outside China.
“With the safety of its employees, partners and customers foremost in mind, LG has decided to withdraw from exhibiting and participating in MWC 2020 later this month in Barcelona, Spain. This decision removes the risk of exposing hundreds of LG employees to international travel which has already become more restrictive as the virus continues to spread across borders,” read LG’s official statement.
The Mobile World Congress is scheduled for this month in Barcelona, Spain. LG, last year, had showcased a premium smartphone before the start if event.
LG will be holding separate events
In lieu of its participation in MWC, LG will be holding separate events in the near future to announce its 2020 mobile products. The LG mobile communications company recorded 2019 revenues of KRW 5.97 trillion ($ 5.07 billion). Fourth-quarter sales of KRW 1.32 trillion ($ 1.12 billion) declined from the same period a year earlier due to sluggish sales of mass-tier smartphones in overseas markets.
A full-year operating loss of totaled KRW 1.01 trillion ($ 858.34 million) reflected increased marketing expenses to support flagship devices. LG’s 2020 mobile business improvement strategy hinges on the introduction of new mid to premium 5G smartphones and continued cost-efficiency efforts.
“LG Electronics thanks its supporters and the public for their understanding during these difficult and challenging times,” read LG’s official statement.