LG struggled to maintain its reputation in the highly competitive mobile market. Accordingly, it is known that the company is preparing to announce that it will stop the smartphone business.LG struggled to maintain its reputation in the highly competitive mobile market. Accordingly, it is known that the company is preparing to announce that it will stop the smartphone business.
According to the Korea Times, LG is expected to announce that it will withdraw from the smartphone market on April 5th, as it has not made any profits in the past few years.The Korea Times said, “LG Electronics appears to have entered the transition process to withdraw from the damaged smartphone business and transfer mobile telecom employees to other divisions.”LG has suffered operating losses since 2015 and has been unable to transform its mobile business despite bringing out a truly innovative device. The company was trying to find a buyer who was attracting attention from Volkswagen and Vietnam’s Vingroup JSC, but the negotiations seemed to have failed.
In recent January, a spokeswoman for LG said the company is not shutting down its mobile business. And indeed, there have been reports that LG is developing new devices this year. It even haunted the Rollable smartphone a few months ago. The LG Rollable, which was tentatively called, was expected to offer a “unique resizable screen” that could be transformed.If LG actually stopped its mobile business, everything it planned for 2021 would have been scrapped. LG’s absence in the Android market will be a huge loss to the industry. Because the company came up with a lot of great ideas. LG also helped create legendary phones like the Nexus 5 and Pixel 2 XL.”What we can say is that all possibilities are open,” a company spokesman told The Korea Times.
We cannot confirm right now, but we will announce the specific direction of the mobile communications business.”For the time being, we will await an official confirmation of LG’s future mobile plans. Today is April 1st, which is tricky when it comes to reporting major news. As it is known to be released on April 5th, it won’t be long before we know either.