LG is facing a serious decision to consider discontinuing production of its products.
This week, the South Korean company sent an internal document to its employees about leaving the smartphone market. LG has made more than $ 4.5 billion in this segment in five years and continues to face competition. In the document, the CEO of Kwon Bong-seok informed his employees about the company’s intentions, where it is planned to reconsider remaining in this segment of production.
With this step, LG would give up the fight against the competition in the submission of Xiaomi, Vivo, Samsung, Huawei, but also Apple. The company is not able to compete adequately in the field of smartphones, although last year it introduced interesting news from LG Wing and Velvet. Previously, they have tried it with the G7, G8, V40 and V50 models. Unfortunately, they did not reach enough customers and the numbers in sales did not meet the company’s expectations. Currently, the company is focusing on scrollable devices that would like to differentiate themselves from the competition.
The company wants to introduce the new device later this year, but at the same time it can be the last smartphone introduced by LG. Unfortunately, the competition in this industry is strong, but LG used to present interesting mobile phones, such as LG Crystal, Chocolate, or smartphones LG G2, G3 but also V60 ThinQ. But at the moment, it is at a crossroads, like Nokia or HTC used to be. Nokia did not get much water with its return, HTC is more or less surviving in the domestic market and BlackBerry is only licensing. All these brands have a common destiny – they fell asleep time and could no longer jump on the running train.
Source: Technológie by pc.zoznam.sk.
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