LG CEO predicts difficult handset turnaround in Q2

Speaking to reporters on Thursday, LG CEO Koo Bon-Joon said it would be difficult to turn around the company’s current struggle in the handset business during the second quarter. LG reported poor handset sales during the first quarter of the year — phone sales were down 9.2% year-over-year and 14.3% quarter-over-quarter, and shipments were down 10% year-over-year. Gartner also recently noted that LG’s share of the mobile phone market dropped two percentage points to 5.6% year-over-year. LG’s CFO has said that the firm is banking on the success of its Android-powered Optimus smartphones.

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