LG’s house within the smartphone market has been chipped away at for years, however subsequent yr the corporate may truly name it quits. That’s proper, LG has formally confirmed that it’s contemplating leaving the smartphone market in 2022.
A report earlier this week from The Elec (since deleted) claimed that LG higher-ups had notified workers of the potential plans, however LG representatives flat out denied that this was the case. Properly, now one other report from The Korea Herald is bringing that again to the desk, and this time LG isn’t saying no.
LG CEO Kwon Bong-seok despatched an inside memo to workers on Wednesday saying that “it’s about time” for the corporate to take a tough have a look at issues and presumably make “the only option.” What’s that most suitable option? Apparently, LG is weighing out downsizing its smartphone enterprise, withdrawing from the market completely, and doubtlessly even promoting off its smartphone enterprise and property.
Because the competitors within the world marketplace for cell units is getting fiercer, it’s about time for LG to make a chilly judgment and the only option. The corporate is contemplating all doable measures, together with sale, withdrawal and downsizing of the smartphone enterprise.
In contrast to final time round, LG has since confirmed that this message is actual, saying to The Verge that nothing has been selected at this level.
Actually, this comes as no shock. To say that LG has failed to achieve traction out there is an understatement. Over the previous a number of years, LG’s mid-range and flagship telephones have persistently been behind rivals similar to Samsung and Apple and have been much less critically revered than units from Google and different Android OEMs.
Software program assist has additionally been an ongoing problem for LG as the corporate has been infamous for not updating its Android smartphones in a well timed method for years. Because of evaporating client curiosity, the corporate has seen little or no success in all markets, particularly in america the place LG telephones are not more than vessels for carriers to regulate and promote as they see match.
To place issues in perspective, the final time that an LG telephone was really compelling in opposition to Samsung, Apple, and Google releases was the LG G4 launched in 2015. There have been some highlights within the time since similar to LG V60, LG Velvet, and even the wacky LG Wing, however these efforts had been just too little, too late.
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