LG will stop releasing new phones every year

As LG G7 nears LG opts out of rigid update schedules

Sung-jin also referenced lithium material supply as factor for slowing down new phone releases.

LG wants to "retain existing models longer" with the release of additional variants, for example. We were expecting to be teased with the LG G7 but nothing.

The majority of earnings from LG's mobile phone unit are reportedly derived from its more affordable smartphones, than flagship models. Its mobile division is coming off the back of 10 quarter-on-quarter losses, so now could be a good time for a change.

LG went to the CES 2018 event to launch a number of products including the LG WK9 ThinQ Google Assistant touchscreen speaker, ThinQ smart kitchen appliances, ThinQ AI technology, new α (Alpha) 9 processor, and the LG V30 Raspberry Rose. When asked for a potential ETA of the announcement of the G7, the chairman said that LG will unveil future handsets "when it is needed" and won't necessarily do announcements in unison with rival companies. "But we will not launch it just because other rivals do", he said. LG noted that it would release more variants, especially for the G or V series.

More news: A 'John Wick' TV show is in the works at Starz

Samsung's Galaxy S9 is unlikely to be a huge leap forward following the near-perfect S8 range.

We'll have to wait for February's Mobile World Congress to see which flashy new models buyers will drool over in the next year.

Cho focused on LG's new approach as something the company could sustain.

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