0 LG kicks out its CEO due to declining mobile sales and poor performance

Name : Nam Yong
Designation :  CEO , LG electronics 
Experience : Working in LG since 2007
The kick out : 17th September 2010 
Reason : " Declining mobile phone sales " says LG 
Replacement : 59-year old Koo Bon-joon , head of the LG’s trading firm


Nam is the second CEO of a major mobile phone maker in a week to lose his job after the world's No.1 handset maker, Nokia, last Friday replaced Olli-Pekka Kallasvuo with Stephen Elop, a Canadian Microsoft executive.
Both Nokia and LG have been under tremendous pressure due to lack of potential smartphones to compete against rival - Apple and Samsung .
LG's mobile business reported a record loss last quarter and warned of a similar loss this quarter

"Koo is expected to reshuffle the organization and actively cope with the fast-changing IT industry... LG is expected to narrow the gap with Apple and other leading smartphone markers," said Lee Yong-jik, a fund manager at AIG Investments in Seoul.

The once innovators Nokia and LG mobiles are now struggling to show up their presence in the market . We do hope to get some good products out of this mobile phone war and hope Nokia and LG gear up for some really fantastic products in Q4 2010 .

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