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LG confirms it will exit the smartphone business



LG confirmed today that LG is exiting the smartphone business. LG said in a statement that this decision will “enable the company to focus resources on growth areas, such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions and platforms and services. “.

Existing mobile phones will continue to be sold, and LG said it “will continue to support its products for a period of time, depending on the region.” The company did not disclose any news about possible layoffs, but “the details related to employment will be decided at the local level.”

; LG said it expects to complete the shutdown of the business before the end of July this year.

After the department suffered huge losses in the past five years, there have been rumors that the move has been for several months. LG was once considered a competitor of South Korean manufacturer Samsung. Recently, high-end smartphones have been struggling in the competition, while cheaper phones are facing fierce competition from Chinese competitors. The company has previously stated that it hopes to make its smartphone division profitable in 2021.

Today’s news means that LG’s long-time rollable phone is unlikely to be seen. The last time the company demonstrated the device was at this year’s virtual CES, when the company insisted that the device is real and will be launched later this year.

There are reports that since at least the beginning of this year, LG has been considering withdrawing from smartphones. Although a company spokesperson marked in an earlier report that the company’s possible withdrawal from the smartphone business was “completely false and without any basis,” LG officials later confirmed that. Korean herald that The company must make “indifferent judgments” about the department. The official said at the time that possible measures could include “sell, withdraw and reduce the size of the smartphone business.”

In March, there were reports that the company had tried to find a buyer for its smartphone business, but negotiations were deadlocked and the department might be closed.Korean socket East Asia Said that the company has stopped developing the upcoming mobile phone with a rollable display, and has shelved the planned smartphone in the first half of this year.

Having lost the share of competitors, LG released a series of eye-catching devices with unusual appearances. LG Wing, whose main display rotates to show the smaller secondary screen below it, or its recent dual-screen device. LG also tried the LG G5 modular smartphone, but abandoned this plan a year later.

Unfortunately for LG, none of these features are enough to turn a mobile phone into a mainstream product, and the company’s more traditional mobile phones also lag behind competitors in core areas such as camera performance.

Over the years, LG has abandoned smartphones along with many well-known device manufacturers, although many brands have stayed on devices produced by third-party manufacturers. Nokia’s consumer-oriented brand relies on HMD-produced mobile phones, while the Blackberry brand was originally used by TCL and will return this year on devices produced by OnwardMobility. There is also HTC, which is still selling some odd-numbered phones, but sold most of its IP to Google in 2017. who is the next?


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