The arrival of Asian companies to the world of telephony it didn't sit well with LG, a company that did not know how to adapt to the new market, something that its rival Samsung, who for 10 years, continues to be the company that sells the most smartphones worldwide.
The only market in which the company continues to operate with relative success is the American one, since both in Europe and Latin America, it has been reducing its presence until it is practically non-existent. The current panorama of the telephony market is forcing the company to consider your exit.
According to the media The Korea Herald, LG is considering quit the smartphone business Due to the increasingly reduced number of shipments and the amount of losses that have been accumulating in recent years, losses that stand at 4.500 million dollars in the last 5 years.
LG is considering all possible measures, including the sale of the smartphone division, the total withdrawal or even a gradual withdrawal from this business. The company's intention is to retain all current jobs in the smartphone division by reassigning them to other departments.
When the new CEO of LG, Kwon, took office in early 2020, there were many rumors that the company was contemplating withdrawing from the telephony market, rumors that were denied by Kwon.
Apple has been around since the launch of the iPhone X, looking for quality alternatives to SamsungMore than alternatives, suppliers that can also supply the screens required by the company with Apple's quality standards, a need that LG has not yet been able to supply.
Although there is still no official confirmation on LG's intentions in the telephony market, the Korean company has decided finish LCD screen production, screens that we can find in the second generation of the iPhone SE.