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Monday, September 20, 2010

Financial Times, Wall Street Journal
LG REPLACES CEO
Nam Yong has offered to step down from his CEO position, taking the blame for poor management of LG’s mobile-device business, writes FT. The job will be filled by Koo Bon-joon, who is part of the family that founded the South Korean electronics giant, and brother of Koo Bon-moo, who is chairman of the LG group.

BLACKBERRY-MAKER BOUNCES BACK

RIM reported a surge in its fiscal Q2 profits and revenues, defying concerns of mounting competition from Android-based devices and iPhones, writes FT. RIM shipped 12.1 million new handsets and raised its Q3 sales forecast substantially. However, the BlackBerry-maker faced intense competition in the US market, adding 4.5 million new subscribers, lower than the approximately five million it had forecasted. RIM’s Q2 profits were USD797 million, up 45 percent from the corresponding quarter in the previous fiscal year.

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