Apr 06, 2021 11:07:00

LG Electronics withdraws from smartphone market

On April 5, 2021, Korean electronics maker

LG Electronics announced that it will close its mobile business division, which handles smartphones and other devices.

LG TO CLOSE MOBILE PHONE BUSINESS WORLDWIDE | LG NEWS ROOM
http://www.lgnewsroom.com/2021/04/lg-to-close-mobile-phone-business-worldwide/

LG to pull out of mobile phone market | LG | The Guardian
https://www.theguardian.com/technology/2021/apr/05/lg-to-pull-out-of-mobile-phone-market

LG Electronics announced on April 5 that it has decided to withdraw from the highly competitive smartphone market and focus on areas such as electric vehicles, smart homes and artificial intelligence. The smartphone business is expected to end by July 31, 2021, but it also states that it may extend the service by deciding the period for each region.

LG Electronics was the third largest smartphone maker in the world after Samsung and Apple in 2013, but in recent years there have been problems such as software malfunctions, and in the past six years it has been about $ 4.5 billion (about 4900). It is expected that there will be a loss of 100 million yen).

LG Electronics' withdrawal from the smartphone market was rumored as of early 2021. At that time, LG Electronics CEO Kwon Bong-suk acknowledged the contraction of the smartphone business, 'Management is considering solving the problems of the mobile business division in 2021, but nothing has been confirmed at this time.' Was stated.

LG considers withdrawal from smartphone market-GIGAZINE

In this announcement, LG Electronics said, 'We will utilize our mobile expertise to develop technologies such as 6G mobile communication systems (6G) to further strengthen our competitiveness in other business fields.' Stated.