LG is considering leaving the smartphone world

LG is considering leaving the smartphone world

LG, which has struggled to compete with rival smartphone makers, said it was considering leaving the smartphone market this year, after losing about $ 4.5 billion over the past five years. The Verge reports that LG is now considering making big changes in the smartphone business, according to the company’s CEO, Kwang Bao-sut.

In an internal notice sent to the company on Wednesday, Kwang Bae-sut warned that the focus on the LG phone business would change. “As global competition for mobile devices intensifies, LG will have to decide whether or not to make the best choice.” An official statement said.

In the same statement, the company announced plans to reduce the size of its smartphone business. It said it was considering implementing all possible procedures, including marketing and sales. LG Electronics executives have pledged to make any necessary decisions to meet the challenges of the mobile business by 2021, but no action has been taken so far, a LG spokesman said.

LG G7 V40 Samsung, G8 and V50 It competed with Huawei, but its market share was weak. Attempts to launch new and attractive LG Velvet and Wing smartphones have not been as successful as expected. According to IDC, Samsung, Huawei Xiaomi Vivo and Apple dominate.

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Last week at the Consumer Electronics Show, LG unveiled a new Rollable product that stands out from the competition in the smartphone business. The LG Rollable, a resizable screen phone that extends the bezel from the size of a regular phone to a small tablet, is expected to hit the market later this year.