LG Pushes Out CEO Nam as iPhone, Android Dominate Smartphone Market

Apple Inc. and Googles Android are putting the squeeze on rivals. That reality became more pronounced this week as yet another handset makers CEO was pushed out of a job for failing to compete against the iPhone and Android-based smartphones.

On Thursday, LG Electronics, the worlds third-largest handset maker, said Yong Nam was resigning. The announcement came just days after Nokia Corp., the No. 1 mobile device manufacturer, got rid of Olli-Pekka Kallasvuo and replaced him with a former Microsoft Corp. exec.

Nam will be succeeded by Koo Bon-joon, CEO of LG International. Bon-joons family founded South Korea-headquartered LG. The move comes as analyst firms predict the Android mobile operating system, especially, is poised for domination, such as in the North American market by the end of the year. LG is among the handset makers that yet to develop a formidable challenger to the iPhone or Android-based devices such as the Motorola Droid or any of the HTC smartphones. As a result, LG shares have slumped almost 25 percent since April. An LG spokeswoman told PC world Nam has taken full responsibility” for LG Electronics financial situation.

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