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LG’s space in the smartphone market has been shrinking for years, but next year the company may actually shut down. That’s right, LG has officially confirmed that it plans to exit the smartphone market in 2022.
A report earlier this week from Elec (since deleted) claimed LG superiors briefed employees on the potential plans, but LG officials have categorically denied that to be the case. Well, now another report from The Korea Herald brings that back to the table, and this time LG doesn’t say no.
LG CEO Kwon Bong-seok sent an internal memo to employees on Wednesday saying “it’s time” for the company to take a good look at things and possibly make “the best choice.” What is this best choice? Apparently LG is weighing down on downsizing its smartphone business, pulling out of the market altogether, and may even sell its smartphone business and assets.
As the competition in the global mobile device market is increasingly fierce, it is 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 smartphones.
Unlike last time, LG has since confirmed that this post is real, telling The edge that nothing has been decided at this stage.
Honestly, this is no surprise. To say that LG has failed to gain traction in the market is an understatement. Over the past few years, LG’s mid-range and flagship phones have historically lagged behind competitors such as Samsung and Apple, and have been less revered than devices from Google and other Android OEMs.
Software support is also an ongoing issue for LG as the company has been known not to update its Android smartphones in a timely manner for years. Due to the evaporation of consumer interest, the company has seen very little success in any market, especially in the United States, where LG phones are just vessels that operators can adjust. and sell as they see fit.
To put it in perspective, the last time an LG phone was really The LG G4 released in 2015 was convincing compared to versions from Samsung, Apple and Google. late.
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