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Friday, August 20, 2010, 05:00 pm PT (08:00 pm ET)

LG exec proclaims upcoming LG tablet "better than the iPad"

In an interview, an LG vice president announced that its Optimus-branded LG tablet will best the iPad by allowing content creation.

The Wall Street Journal reported that Chang Ma, vice president of marketing for LG Electronics' mobile-devices unit, acknowledged Apple's iPad as "a great device," but claimed that the South Korean company's first tablet, which is due out by the fourth quarter, will be better than it.

Ma, who says he doesn't do much work on the iPad, believes that high-end productivity features and benefits will make the forthcoming LG device "surprisingly productive." The tablet will focus on allowing users to create documents, programs and videos.

LG also announced plans to launch 10 more smartphones by the end of the year in addition to the Android-based tablet device. LG's place as "the world's third-largest handset maker by unit shipments" is in jeopardy, with market share declining as LG continues to lose ground to the smartphone market. In the second quarter, the company saw a 31% decline in sales, posted its deepest quarterly loss in 8 years, and held a smartphone market share of just 1.2%.

In an aggressive push, LG has significantly increased spending on marketing and research and development of mobile devices. According to Ma, the mobile devices unit won't be profitable until early next year, although he remains hopeful for a strong fourth quarter.

LG Display, an affiliate of LG Electronics, provides displays for the iPad, but has been unable to keep up with demand for the device.