A brand-new choice came from LG, one of the recognized names in the phone world. According to this decision, LG is gradually withdrawing from the phone market. With the competitive environment continuing unabated, LG is said to have actually lost $ 4.5 billion in 23 consecutive quarters (6 years). After this damage on the mobile side, LG aims to move to successful and profitable areas.
Is it attracted by the LG phone? Things are severe
We haven’t been receiving positive news from LG on the phone side for a while. For this factor, it was being talked about that LG would totally withdraw from the mobile market.
This news, which came out with a composed statement by Kwon Bong-seok, emphasizes that the ferocious competition in the smart device market forced LG to pull out of this area.
60 percent of workers in LG’s mobile department will be moved to other parts of the business. The staying 40 percent will stay in the mobile section of the business to be transferred. In other words, LG is sacrificing a few of its work on the mobile side and sitting at the table for the sale of 40 percent. This decision is expected to be formally revealed quickly.
According to Counterpoint, although LG ranked 3rd in the international smart device market in the first quarter of 2013 by Technique Analytics, it didn’t even make it into the top 7 in the 3rd quarter of 2020, so the decision is thought to have been made.