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Hwang Jeong-hwan, head of LG’s mobile division, has revealed in an announcement today that LG may launch a high-end smartphone in the first half of the year. The smartphone in question is still being developed and it is still too early announce any release date.

There will be an event where we will showcase a new premium model smartphone soon. But starting this year we are trying out different strategies and will not follow rivals. We are thinking of fundamentals, For the time being, there won’t be a major change. A smartphone can’t be made within a couple months. There are previous roadmaps that we have drawn for new models. But there will be changes going forward. – Hwang Jeong-hwan, head of LG’s mobile division

Jo Seong-jin, Chief Executive of LG Electronics, had announced at CES last month that the company would change the brand name of its flagship handset (currently G & V), but nothing was finalized.

In the ongoing MWC, LG has already launched an upgraded version of the V30 smartphone, called the V30 ThinQ, with added AI capabilities, primarily focused on the device’s camera. ThinQ is LG’s AI and Internet of Things (IoT) brand, whose usage has been expanded to TV’s before having it applied to the V30.

LG has been incurring concurrent losses for quite some time now, with it having posted 10 straight quarters of losses as of the fourth quarter of last year. LG lost 700 billion won, or around $650 million last year itself.

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