In this work, the evaluation of the performance degradation due to the presence of line-of-sight (LOS) component for an open loop multiple input multiple output (MIMO) system under Rician fading channel is presented. The bit error rate (BER) performance of 2×2 MIMO systems in terms of the Rician K factor for space time block coding (STBC) and spatial multiplexing schemes utilizing with minimum mean square error (MMSE) receiver are analyzed. Monte Carlo simulation technique is used to simulate the channels and show the validity of the performance analysis. Dual-polarized diversity and multiplexing schemes are also evaluated to compare their performance in LOS MIMO environments. The tradeoff between multiplexing gain in dual-polarized multiplexing scheme and system robustness in STBC scheme is given in LOS scenario.