LG has made a great announcement just in time for the holidays. LG Group said Monday that it will spend nearly 70% of its planned 21 trillion ($18 billion) investment next year (its biggest ever) in improving its key electronics businesses, including smartphones, tablet computers, advanced flat panels and more.
This move will be an an attempt by LG Group to engineer a quick turnaround in the under performing cellphone business of LG Electronics, the conglomerate’s flagship unit, and penetrate new growth areas in consumer electronics. With Samsung’s recent growth and success, this may just be the best move for LG yet! What do you think?