LG is reportedly considering to exit the smartphone market
LG, the South Korean company has been trying hard to establish itself in the smartphone business but lately, it hasn’t been able to make its mark in the market. It has been struggling for years to compete against its rivals.
Now, it seems that the company could shut down the shop on its smartphone business. As per the reports, LG CEO Kwon Bong-Seok has notified its employees that the company is considering making big changes in the smartphone business.
In an email to employees, he said: “Since the competition in the global market for mobile devices is getting fiercer, it is about time for LG to make a cold judgment and the best choice. The company is considering all possible measures, including the sale, withdrawal, and downsizing of the smartphone business.
Earlier, there was a report from a Korean publication making rounds that suggested that the company is looking to exit the smartphone market but at the time, LG said the report to be “completely false and without merit.” However, the company now seems to be making development towards that path.
The company tried to rebrand its smartphones with the launch of new devices with a revamped design. It also looked to offer “wow factors” with devices like LG Wing. While these new phones generated buzz, they didn’t fare well in terms of sales.