Is the end of LG smartphones near? The company CEO speaks

Source: HW Upgrade added 21st Jan 2021

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The South Korean consumer electronics company it seems increasingly aimed at an abandonment of smartphone production. The competition is too much and LG in recent years has not met expectations despite the many efforts

of Lorenzo Tirotta published on , at 12: 41 in the Telephony channel

LG

For some time now there have been rumors about a possible goodbye of LG to the smartphone market . Although the company had denied all the rumors so far, yesterday the CEO Kwon Bong-seok sent an internal memo to the company, anticipating to employees that there will be major changes in the smartphone business .

LG has tried in every way to challenge the competition with innovative products and technologies not yet on the market, but without great success. Among the most interesting proposals we have recent models such as LG Wing and LG Velvet, little appreciated by users . LG Wind, in particular, recorded disappointing data: less than 50. 00 0 units sold .

Will LG say goodbye to the world of smartphones?

The news of the release from the smartphone sector created even more hype if we think that just a few days ago LG, during the conference at CES 2021, showed an official teaser of the new LG Rollable , a smartphone that will represent a new leap forward for the mobile world. LG has seen an exponential growth in the last year, never recorded in its history, but this rise is not due to the smartphone world , but from other sectors: household appliances, TV and other consumer electronics products.

As reported by The Korea Herald, LG in 2020 is committed to regaining the fate of the smartphone sector, but the numbers speak for themselves: the production of smartphones led to a loss of 5 trillion won, over 3.7 billion euros in the last 5 years. According to data from Counterpoint Reserch , LG in third quarter of last year distributed 6.5 million smartphones , down from 7.2 million in the same quarter of 2019. Numbers that led the company’s top management to take a revolutionary decision .

“As competition in the global mobile device market is becoming increasingly fierce, it is time for LG to make a cool judgment and make the best choice. including the sale, retirement and downsizing of the smartphone business, “ said a spokesperson for LG . We don’t know what the final decision will be, but we will certainly see a radical change for the LG smartphone division. For the moment we look forward to the futuristic LG Rollable . Will he be LG’s latest smartphone?