South Korea Electronic giant company LG close phone business sue to heavy loss in last 6 years.
LG had once been the world’s third-largest phone maker by shipments and remains the biggest U.S. vendor after Apple and Samsung. But now you can’t see any new phone from LG Company.
They will wind down their smartphone business by July 31st, 2021 according to their statement. They will continue to sell their remaining stock of smartphones until shutting shop and move to online sales till stocks last.
LG’s market share is just shy of the double-digit mark in the US and their exit comes as welcome news for Apple and Samsung who will duke it out to absorb that space left by the South Korean manufacturer.
Although I can’t remember a lot of family and friends owning an LG smartphone in the past 5 years, the smartphones by LG certainly will be remembered for their innovative design before the competition, with the most notable innovation was that they were the first to offer a wide and ultra-wide camera lens.
Along with this, LG was also the pioneer when it came to providing a hi-resolution Quad HD display as well as provides two selfie cameras in one of their funkiest smartphones, the LG Wing which has a swivel screen as well as a normal screen. Despite such innovations, LG smartphones have never been the first manufacturer you’d think of when it’s time to buy a new phone.
With competitive pricing for smartphones that are riddled with problems, sales took a nosedive for LG and made it a no-brainer for people to choose alternatives that had better and more reliable features.
Despite all the niggles, I am sad to see LG close shop and share a metaphorical salute while I reminisce about my Google Nexus 5 which I bought back in December 2013 with my first salary.
This year, LG was scheduled to launch a smartphone with a rollable OLED display after it teased the product at the Consumer Electronics Show (CES) 2021. However, the company reportedly scrapped the plan.
Analysts said LG’s efforts were not enough to turn things around as the company was overshadowed by Samsung Electronics Co. and Apple Inc. in the premium segment, while Chinese brands dominated the budget phone sector.
This is a syndicated post from WWW.timesnownews.com
