Apparently in Q4 of this year, LG will launch a new Black Label-branded device to compete directly with iPhone, which when coupled with dreams of more success from yet another Prada device (and if we're super fortunate, some more Transformers-branded stuff) is part of the master scheme to start down the path.
He learned the business under activist master Carl Icahn, got start-up money from George Soros for Coventry, and has avoided the more contentious personal battles that often come with this territory.