Each of us has our favorite or hated companies. This applies to every aspect of our lives – food, clothes, games, cars, computer components and consumer electronics. In each of these market branches, however, there are companies that have been present in stores for many years and it is difficult not to associate them. In the case of smartphones, one of such entities is cheebol in the form of LG, which offers devices from various price and performance segments. However, according to the latest information, we can say goodbye to Korean phones soon. After years of losing out in this segment, Asians are considering options, one of which is to exit the phone market altogether.

The Polish branch of LG denies the reported reports, while the foreign branch of LG confirms them. So the situation is still unclear.

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LG Wing test – smartphone with gimbal function and rotating screen

As reported by the Korean newspaper The Korea Herald, Kwon Bong-seok (LG CEO) sent an internal message to employees on Wednesday, including that “As competition in the global mobile device market becomes increasingly sharper, it is time for LG to take a cool judgment and make the best choice. “and” The company is considering all possible measures, including selling or reducing the smartphone division or withdrawing completely from this market. “At the same time, the CEO stressed that” Regardless of changes in the smartphone business, employment will be maintained, so there is no need to worry. “And it is hard not to believe these assurances, considering the size of the Korean company and how many different things it produces.

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The reason for the changes in the company’s smartphone division is the fact that the total loss of LG Electronics over the last five years is around 5 000 000 000 000 Korean won (~ 4 544 425 500 dollars). Although the situation in the third quarter 2020 was much better than in the first and second quarter, it is still not colorful. The speech was about operational loss “only” 148, 4 billion won, decreasing from consecutive 206 and 237, 8 billion won (Q2 and Q3 2020). LG confirmed in an interview with the foreign portal The Verge that such a message had actually been sent, although the company has not yet made any final decision. On the other hand, LG Polska completely denied these reports in an interview with us. We must admit, however, that similar rumors were already appearing earlier this month.

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Well, there is nothing else but to wait for the situation to develop further. In my opinion, the lack of LG on the smartphone market would be a noticeable loss. This is one of the few companies that should be valued for originality. For example LG G4 from 2015 of the year with leather backs; the newer LG Wing with two screens and a built-in gimbal or the futuristic LG Rollable with a sliding screen announced for this year. What’s more, Koreans have always offered good DACs and cameras in their flagships, without removing useful solutions such as a jack socket or a memory card space like Samsung or Apple. A lot of positive things were also heard about specific Nexus / Pixel models, which were just made on behalf of the Americans by Koreans.

Source: The Verge, The Korean Herald, LG Polska,