The unveiling of two new Android powered Optimus handsets earlier this week might signify a renewed vigour for smartphones at LG, but it would appear it was too little, too late for CEO Nam Yong.

According to a statement released by the world's third largest mobile manufacturer, he will be replaced on October 1 by current chairman Koo Bon-moo's brother, Koo Bon-joon.

Life's good?

Yong's departure comes after commentators criticised LG for a failure to embrace smartphones, with the Taiwanese firm losing market share and investor confidence as a result.

"We made the decision to give an incoming chief executive enough time to prepare for next year," LG said in the statement detailing the move, claiming Nam Yong had accepted responsibility for the "current difficult situation" the firm finds itself in.

LG's mobile unit, which once accounted for around a third of the group's total sales, recorded a record loss of 120 billion won ($103 million) back in July.

Smartphone central

As such, Koo's first priority is set to be getting the firm back in the smartphone race, with LG having previously stated it intends to launch 20 smartphone handsets this financial year.

"Koo has a deep understanding in technology and extensive experience in broad industries from chemicals, electronics and resources," the company added.

The two new Optimus handsets are part of a priority to make Android the firm's focus, with president and CEO of mobile communications Skott Ahn – who speculation suggests might also be set to leave in the current shuffle – stating back in January that the firm planned to launch 10 handsets running Google's OS this year.

Android isn't the only horse the firm is backing, however. LG has also thrown its weight behind Windows Phone 7, with leaked shots and videos of the LG E900 having hit the web in August.

[source: Bloomberg]