I believe the phrase is Good Money After Bad.
LG Electronics is planning to raise 1.0621 trillion won (£588m) in a shares issue so it can pour funds into core businesses like smartphones and take on new staff, its board said today. The 19 million new shares will be issued at 55,900 won (£30.96) each, a 9 per cent discount to their closing price on Thursday of 61,600 won …
looked more like fridges than phones
Some months ago LG dropped out of the top 10 install list for my giffgaff Android app, replaced by Samsung going head to head with HTC and the Orange San Francisco.
I always thought the LG devices looked more like white goods than sexy toys and low price obviously wasn't enough to overcome their fridge-freezer dullness. When the ZTE Blade(AKA San Francisco) showed a phone could look marginally sexy and still be cheap the game was up for LG.
Gone and barely remembered ;)
I wouldn't put a penny into LG
They make CRAP phones and pouring all that money in would most likely be a complete waste, 'cos I (for one) AIN'T EVER going to buy another LG phone.
Good 'smartish' phones for tweens
For a couple of years LG made good cheap transitional phones between simple handsets and smartphones. My daughters loved the real QWERTY of the KS-360 and the resistive touch screen (with virtual QWERTY) of the GD510 'Pop'. Friends had the Cookie, etc.
Great battery life and very useful as a phone (I 'inherited' the Pop when one of them upgraded to an Orange San Fran). Not very fashionable, though. I think that cheap-ish middle market will disappear pronto.