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LG to focus on future mobility after exiting phone biz

LG to focus on future mobility after exiting phone biz
Posted : 2021-04-05 16:48
Korean tech giant to quit making phones from July 31
By Baek Byung-yeul
LG Electronics announced Monday that it has decided to end its money-losing smartphone business and realign its business structure with a focus on new businesses, such as future mobility.
The decision came at a board meeting of the Korean electronics giant, and following it the company will end its mobile phone business from July 31.
LG described the decision as a strategic exit as the company needed to reallocate resources efficiently to promising areas such as electric vehicle (EV) components, connected devices, robotics, artificial intelligence and business-to-business platforms. ....

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General Motors Pledges to Devote More Ad Dollars to Black-Owned Media

General Motors Pledges to Devote More Ad Dollars to Black-Owned Media
Brian Steinberg, provided by
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General Motors, one of the nation’s biggest advertisers, said Thursday it would quadruple the percentage of its advertising dollars that go to Black-owned media outlets between now and 2025.
GM’s new effort is a sign of the scrutiny and pressure that corporate giants are facing to spread their corporate spending around a wider array of firms.
More from Variety
GM said it intended to increase the allocation of its ad spending from its current 2% with Black-owned media to 4% by 2022 and to 8% by 2025.
“Black-owned media are a vital component of our marketing mix, and we evaluate our spend for media partners through several core metrics, including transparency, innovation, ad quality, audience delivery and brand safety,” General Motors said in a statement Thursday. The company also said it would in May launch an “upfront” pro ....

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LG appears to pull out of money-losing smartphone business

Posted : 2021-04-01 16:51
Updated : 2021-04-01 17:51
LG Electronics Yeouido headquarter building displays G6 in lit-up windows to celebrate the release of the company s G6 smartphone in this March 31, 2017 photo. Courtesy of LG Electronics
By Baek Byung-yeul
LG Electronics appears to have decided to pull out of its money-losing smartphone business and entered into a transition process to relocate its mobile communications employees to other business units.
After suffering operating losses since 2015, LG attempted recently to sell its mobile communications unit, which oversees the smartphone business. The company has reportedly been in negotiations with various interested buyers, including Vietnam s Vingroup, but failed to reach an agreement with any of them. ....

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Magna Raises U.S. Advertising Spending Forecast

Magna Raises U.S. Advertising Spending Forecast
forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.

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Magna reveals electric live axle for pickup truck use

Magna reveals electric live axle for pickup truck use
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