LG considers withdrawal from smartphone market
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LG , a comprehensive home appliance maker headquartered in South Korea, boasts one of the largest shares in the world for LCD TVs and organic EL panels, but is struggling in the smartphone business. It became clear that LG is considering withdrawing from the smartphone market.
LG mulls exit from smartphone market
http://www.koreaherald.com/view.php?ud=20210120000992
LG considers exiting smartphones in 2021 --The Verge
https://www.theverge.com/2021/1/20/22240282/lg-smartphone-business-exit-2021-internal-memo
LG's smartphone division has suffered a cumulative loss of 5 trillion won (470 billion yen) over the past five years, and LG CEO Kwon Bong-suk said in an interview conducted in 2020, 'LG's smartphone business 2021 It will turn around by the year. ' However, the global smartphone market share announced by research firm Gartner in December 2020 was classified as 'Other', and the struggle continued.
Xiaomi overtakes Apple to become the third largest smartphone in the world, and worldwide sales decreased by 20 million units year-on-year --GIGAZINE
Meanwhile, an LG employee told South Korean new media Korea Herald, 'In response to intensifying global competition for mobile devices, LG is considering withdrawing from the smartphone market, selling the smartphone business, We are considering all possible measures such as withdrawal and reduction. '
According to Korea Herald, CEO Bongsuk has sent a message to employees that 'employment will be maintained even if the direction of the smartphone business changes', and about 60% of the staff of the smartphone business is in other departments within LG. Or it will be transferred to an affiliated company of LG.
LG confirmed in an interview with news media The Verge that the message of CEO Bongsuk reported by Korea Herald is genuine, 'LG management is considering solving the problem of mobile business devices in 2021. We're doing it, but nothing has been finalized at this time. '
By Mike Mozart
LG has released a prototype of the retractable smartphone ' LG Rollable ' at the world's largest consumer electronics trade fair ' CES 2021 ' held in January 2021, and has announced that it will be released in 2021, but The 'LG Rollable may be LG's last smartphone,' Verge said.
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