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LG Smartphone Business Under Review

ketosublime  LG Smartphone Business Under Review

LG Smartphone Business Under Review

So, the mobile division of LG suffered losses.

Now after a long loss, especially their mobile department

The deficit reached $4.5 billion for the 23rd consecutive quarter.

Although five years have passed, LG is considering abandoning the smartphone market.

In 2021, LG recently showed off a foldable smartphone at CES a few days ago.

ketosublime LG Smartphone Business Under Review

This clearly indicates that the company has good ideas.

The CEO recently had this to say about the smartphone business:

Rumors of exiting the smartphone business “This is completely wrong and nothing has happened.

But in a dramatic turn of events, Reuters uncovered an internal memo from the LG CEO. LG's CEO said he was considering all options for a mobile sector that had essentially been lost.

ketosublime This may include turning off your smartphone.

This may include turning off your smartphone.

The LG CEO said he was selling part of the business or division.

In the global market, competition in the field of mobile devices, including smartphones, is intensifying.

I think LG Electronics has reached the point where it needs to make better decisions.

On the mobile business, taking into account current and future competitiveness”

ketosublime Another LG representative explained and asked for a quote.

Another LG representative explained and asked for a quote.

“No matter how the trends in the smartphone business change, don't worry about hiring. "That is the old

Management aims to alleviate the concerns of employees in the company's smartphone department. And assuring employees that they are safe at work, he said:

The global mobile device market is becoming increasingly dense. It's time for LG to do just that.

Common sense and the best choice."

ketosublime Exit LG smartphone business

Exit LG smartphone business

LG President said: "The company

All possible actions are considered. Including sale/withdrawal/reduction

The company also issued a statement to Verge saying that the results are not yet confirmed. Interestingly, other companies have also acknowledged the situation and started bidding for the belated division of LG, with Ross Young in charge of the division. Four companies participated in the auction for LG smartphones: two in the US, one in Germany and one in Vietnam.

Other companies of interest include BOE, a screen manufacturer that supplies screens for foldable smartphones for Facebook, Google and LG. The announcement is expected next March, according to Bell, and another possibility is that instead of selling the entire mobile division, LG could only sell its flagship line of phones and stay with its mid-range phones.

ketosublime Exit LG smartphone business

A popular Korean site with a flagship lineup including the LG Wing, LG Velvet and the recently announced LG Rollable. It can be expected that she will either completely leave the smartphone market or sell her business. The representative said that both options could be considered. It is unfortunate that the third largest company after Samsung and Apple in 2013 is considering selling its mobile segment, or at least part of it.

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