The LG is in the smartphone market from a long time. The south Korean giant made its impact in the early days of smartphone evolution. Now LG may quit smartphone business anytime soon. LG has recorded losses of over 4.5 billion dollars over the last five years of their smartphone business.
Earlier, the news surfaced LG is not quitting the smartphone market. But now again news is surfaced about LG considering to quit the smartphone business. In 2019 LG stopped making smartphones in home country South Korea and moved their operations to Vietnam. Maybe the beginning of the end started that day.
LG smartphone were clearly way better than others. But the price they were launched initially was way way too much. After that insane pricing they were just selling at almost 40% of that price after a month of launch. They even lacked in marketing their smartphones. The products were great but the pricing and marketing they used, dragged them down.
LG may quit smartphone business
The Korea Herald reports, Kwon Bong-seok sent an internal memo to the staff indicating change in direction of LG Phone’s business. LG is going to resolve its smartphone problems and issues. It may end up quitting the smartphone market as per the leaks.
Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice. The company is considering all possible measures, including sale, withdrawal, and downsizing of the smartphone business.
LG official in a statement to The Korea Herald.
Also, LG has confirmed the verge for the internal memo about changes in the smartphone business was genuine. Earlier the same news was revealed and LG denied it. LG also sold their 55K rupees launched the smartphone at 20K rupees in India in bulk numbers. Recently, launched LG wing also gathered some attention but not sure about its sales. Also, they have already teased a rollable smartphone and it will be coming this year.
Lots of changes will be seen in coming weeks for LG smartphone business. We will update you on every changes. Stay tuned for more updates, If you like this type of latest news, please share it with other communities and forums. Don’t forget to join our telegram group for more wallpapers, Themes, Ringtones Update – https://getdev.me/telegramdev
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