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LG, once a smartphone pioneer, exits mobile phone business

LG, once a smartphone pioneer, exits mobile phone business
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LG Shutting Down Smartphone Business As Samsung, Apple Dominate Market

LG's decision to close its smartphone business shows how challenging it is to compete with Apple and Samsung. ....

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LG tried to be different with its smartphones, but that wasn't enough - Techgoondu

Cellphones
LG’s G Flex 2, with its curved screen and shiny red design, not only made a statement but helped it stand out from rivals. PHOTO: Alfred Siew
When I first got my hands on an LG G Flex 2 phone back in 2015, I knew this was not a usual-looking phone.
With a curved screen that followed the contours of your face better and sporting a sharp, high-contrast OLED screen, this was as stunning a phone as you got back when the Korean company was among the top phone makers.
Indeed, LG never got back to those heights in the years that followed. As the smartphone division kept losing money – actually, since 2015 – the inevitable eventually happened. Today, it became the first major smartphone brand to withdraw from the market. ....

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LG announces closure of the smartphone business

Highlights
LG had previously said it hoped to make its smartphone division profitable in 2021.
LG has been considering this move since at least the beginning of 2021.
South Korean multinational electronics company LG has finally confirmed that it is closing down its smartphone business and the company confirmed that its existing phones will remain on sale, and will continue to support its products for a period of time which will vary by region.
LG said in a statement that this decision will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence, and business-to-business solutions, as well as platforms and services. ....

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LG to exit smartphone business after $4.5bn in losses over six years

Company has struggled to compete against Samsung and Apple, as well as Chinese manufacturers
5 April 2021 • 7:16pm
The Korean electronics company LG is giving up on making smartphones after the once-mighty manufacturer was unable to keep up with increasing intense competition from Chinese rivals.
LG, which was once the world’s third-biggest mobile phone manufacturer, said it would stop making phones by the end of July, adding to a graveyard of phone makers such as Nokia, BlackBerry and Motorola.
LG’s smartphone unit has not made a profit for almost six years and has racked up losses of around $4.5bn (£3.2bn) in that time. ....

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