LG's CEO Resigns Due to Poor Phone SalesS

Who here owns an LG phone? Is that three people I count? Everyone but those three people are partly to blame for LG's CEO resigning, after every single one of their smartphones failed to sell over a million units.

So reports Reuters, which compares the frustrations of LG's phone division with Nokia, a company which lost three execs in as many days.

Nam Yong, appointed CEO and Vice President of LG in 2007, is superseded by Koo Bon-joon, the CEO of trading firm LG International, who is "expected to reshuffle the organization and actively cope with the fast-changing IT industry" according to a fund manager in South Korea close to the matters. Presumably the launch of their Windows Phone 7 phone will help—though I wish I could be as confident about their tablet. [Reuters]