LG Electronics Inc. said Tuesday it will focus on audio, batteries, cameras and displays, referred to by the acronym ABCDs in South Korea, to beef up its smartphone division, which has been suffering losses for nearly three years.

During the meeting with reporters at the Mobile World Congress, which is being held in Barcelona, Spain, Hwang Jeong-hwan, who leads the company's mobile business, said LG plans to regain its market credibility by meeting customer demands.

"It is regrettable that LG Electronics did not do better. We will improve ourselves down the road," Hwang said. "LG Electronics will renovate itself in every aspect to improve fundamentals of the mobile business."

It was Hwang's first official meeting with reporters after being named to his post in November.

"It feels like I have been in the post for three years, when it is really three months," Hwang said. "We have been focusing on innovations and following rivals' features, but the results weren't satisfactory. We ended up with a cost structure that we cannot sustain."