Recently LG, a Korean brand, has announced that they won’t manufacture smartphones anymore and that their sole focus will be on other segments such as EVs, IoT, and B2B Solutions.
The brand’s exit from the phone business has not come as a surprise, though, but we were still apprehensive of the decision that was inevitable.
Why The Big Step?
LG seems to have been suffering 6 years of consistent loss. The brand withstood exceptional loss in the market concerning smartphones.
The South Korean company has finally announced to recalibrate its aim to focus on EV (Electric Vehicles) components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, along with platforms and services.
With an extensive market for phone business, along with the tough competition, LG seems to have been lagging. Samsung, Apple, and all the popular Chinese smartphone makers have outstripped the brand in question.
Should LG Have Tried Harder?
Despite bringing out certain complex smartphones for the user, namely the LG Wing, the dual-screen LG G8x ThinQ, and many more, LG still couldn’t contend with the rest of the top dogs.
However, all the technological advances that LG made during these years will not be in vain. They will be incorporating the said technologies and ideas in the rest of their products. A focus on 6G ensues.
While the rumored rollable phone won’t be available to us, some of the devices that the brand has finished developing might see the light of the day sooner than later.
Competitors On The Lookout
Many companies had talks circulating about the prospect of LG selling the business altogether but now that the brand has outright abandoned the phone business, and rightly so, other companies too seem to have receded from approaching LG.
As for the current phone array, LG has said that the “smartphones will remain available for sale and inventory of some models will still be available.”
After-sale services and software updates will also be accessible for the customers. The update that the brand is talking about is probably that of Android 12.
At the press conference, LG’s spokesperson assured that “LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business. Details related to employment will be determined at the local level.”
July 31 would be the last day by which the brand will wind up its phone business for good.
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