LG announced to close from the mobile phone business

by ddos ·

On April 5, LG Electronics announced that LG will withdraw from the mobile phone market. LG said in a report that due to the long-term downturn in the company’s mobile phone business sales and the fierce competition from industry rivals, its mobile communications department will no longer produce and sell mobile phones.
LG foldable smartphone

Image: LG

Moving forward, LG will continue to leverage its mobile expertise and develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. Core technologies developed during the two decades of LG’s mobile business operations will also be retained and applied to existing and future products.

The wind down of the mobile phone business is expected to be completed by July 31 although inventory of some existing models may still be available after that.

According to industry insiders, the quarterly shipments of the global smartphone market have been declining year after year. The Matthew effect has intensified. The strong will become stronger and the weak will be more difficult to survive.

Like Nokia, LG has had a glorious time, having made outstanding achievements in the 2G era and 4G era. In 2008, LG broke into the top four global mobile phone manufacturers. In 2009, it further became the third-largest mobile phone manufacturer in the world, after Nokia and Samsung. However, with the strong rise of Chinese mobile phone brands, LG has been gone down since 2015.

Tags: LGmobile phone business