South Korea's LG becomes first major smartphone brand to withdraw from market

SEOUL -South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market.Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge.

In better times, LG was early to market with a number of cell phone innovations including ultra-wide angle cameras and at its peak in 2013, it was the world’s third-largest smartphone manufacturer behind Samsung and Apple. LG’s current global share is only about 2%. It shipped 23 million phones last year which compares with 256 million for Samsung, according to research provider Counterpoint.

LG’s smartphone division, the smallest of its five divisions accounting for about 7% of revenue, is expected to be wound down by July 31.

End of the road for LG phones|Catch up series on the history of LG phones

Wow so sad to see them go

Go ElectricCar!

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thanks for the LG G4 defo the phone of its time the spec, quality & unique design was 4g compatible, leather back & made even the hard core Samsung & iPhone users look over twice, yep why? even Samsung users did not at the time have Android’s new OS courtesy of Google 🤷‍♂️👌👍

That's too bad! Their phones were dope!

Check this documentary on what happened to LG 👇 End of the road for LG phones|Catch up series on the history of LG phones

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South Korea's LG becomes first major smartphone brand to withdraw from marketSouth Korea's LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. PM me if you’re interested in earning $105 by online trading daily, PM me if you have a phone or PC let’s go ✅ Still remember my first smart cell phone is LG. ogwang256 Told you this a few
Source: Reuters - 🏆 2. / 97 Read more »

South Korea's LG becomes first major smartphone brand to withdraw from marketSouth Korea's LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge. 'In the United States, LG has targeted mid-priced - if not ultra-low - models and that means Samsung, which has more mid-priced product lines than Apple, will be better able to attract LG users,' said Ko Eui-young, an analyst at Hi Investment & Securities.
Source: YahooNews - 🏆 380. / 59 Read more »