LG considers leaving the mobile business – Engadget1 min read

https://www.engadget.com/lg-ceo-kwon-bong-seok-mobile-division-exit-losses-094712722.html

Naturally, LG has actually also been showing off its rollable phone, which was anticipated to debut at some point this year. That, however, is likely to sit in the ultra-premium tier, and might not be adequate to reverse LGs ever-dwindling market-share which StatCounter stated had fallen to 1.7 percent in December 2020. That same month, LG revealed that it would outsource the design and construction of its low-end phones to third-party ODM producers. In his message to workers, Kwon supposedly stated that some of the workers– potentially around 60 percent– would be re-assigned to other parts of LGs company. Its not clear if the other 40 percent will remain in the far smaller mobile arm or release, although its most likely that LG will require to retain some of that institutional knowledge. One of the reasons that Sony kept its mobile division running so long is to guarantee it can utilize the technologies utilized in phones for any future frontier of gadgets.In 2016, Engadget asked when LG would finally lose persistence with its loss-making mobile department after it fell into a 2nd, deep slump. The business had actually successfully handled to claw its way back to profitability after a loss-making 2013, but when it slipped again in 2015, never looked like recuperating. After all, LG was unable to complete with (Korean competitor) Samsungs marketing might, or the low costs managed by Chinese volume gamers like Huawei and BBK, parent business of Oppo, Vivo, OnePlus and Realme. Update Jan 20th, 6:30 am: Article updated to clarify remarks made by an LG representative to the Korea Herald.

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