​LG Mobile boss in share buyback before G6 launch

LG Electronics mobile boss Juno Cho has bought 2,000 company shares before the launch of the upcoming G6 smartphone as a vote of confidence.
Written by Cho Mu-Hyun, Contributing Writer

LG Electronics' mobile boss has bought 2,000 company shares ahead of the launch of the G6 smartphone this month at the Mobile World Congress (MWC).

The share buyback by Juno Cho before the all-important launch is likely a show of confidence in the company's fortunes this year.

With an average buying price of 58,7000 won, Cho spent a total of 110 million won ($95,000) on the shares. The mobile boss now owns a total of 4,637 shares of LG Electronics.

He was named head of the business back in November, 2014. Since then, the firm has launched the G4 and G5, and rebranded their fall phablet line to "V".

Under his leadership, LG went part-modular with the G5 last year, but the phone failed to turn the company's fortunes around.

The mobile business lost 1.3 trillion won last year.

The company has sent out the official invite for the G6, touting its big screen and smaller body.

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