The CEO of South Korean consumer electronics giant LG resigned today because of the company’s poor performance in the smartphone space. Yong Nam will be replaced by Bon Joon Koo, currently the head of LG International. LG reported a loss in the mobile segment of $103.1 million for the quarter ended in July.
LG has been a big partner of Microsoft (s msft), with Windows Mobile used on the majority of its smartphone line until this year. Windows Mobile has been steadily losing market share the last two years, taking LG down with it. In a change of heart, LG announced earlier this year it would produce as many as 20 handsets based on the hot Android (s goog) platform to stem the downward slide.
It has not abandoned Microsoft entirely; LG prototypes running Windows Phone 7 have been spotted in public regularly, and the company has indicated the Optimus 7 handset coming late this year would run the new operating system from Redmond. LG no doubt hopes the focus on Android, along with brand new Windows Phone 7 handsets, can help kick-start its smartphone business back into the black, although that will be too late for Nam.
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