LG Electronics is no longer the manufacturer of yesteryear, the Korean brand has lost its prestige in the smartphone market. And its atypical and strange smartphones have not saved the mobile division which is accumulating losses. And now ? LG has simply confirmed that it is completely exiting the smartphone business.
Article updated on April 5, 2021:
LG has just confirmed leaving the smartphone sector The decision “will allow the company to focus its resources on growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, as well as platforms and services, ”said LG in a press release.
Original article from March 23, 2021:
Since February 2019, LG Electronics had indicated its choice to leave the French market. We were hoping for a return from the Korean manufacturer, one day, however it seems that it is now very complicated.
LG is considering stopping fees
A few weeks ago, LG had started to consider various options for the future of mobile branch. LG has completely stalled in a few years, its rival Samsung is the leader in the sector and we only find Chinese manufacturers alongside Apple.
Finally, LG recorded massive losses in the mobile sector: around 700 million euros in 2020 with 23 consecutive quarters in the red. The Korean manufacturer now has around 1% market share worldwide.
Atypical smartphones have not found takers
LG was particularly noted for trying to arouse the interest of users with atypical and weird smartphones. In the media, these products were very popular, however they do not seem to find buyers. There was the LG Wing, with its two screens, the Velvet which played in the court of normality with a slick design, as well as the G8X ThinQ with two screens separated by a hinge.