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.

“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. But later, its flagship models suffered from both software and hardware mishaps which combined with slower software updates saw the brand steadily slip in favour. Analysts have also criticised the company for lack of expertise in marketing compared to Chinese rivals.

In addition to North America, it does have a sizeable presence in Latin America, where it ranks as the No. 5 brand. In South Korea, the division’s employees will be moved to other LG Electronics businesses and affiliates, while elsewhere decisions on employment will be made at the local level.

Muito triste... Centenas de desempregados...

not a total surprise but they will be missed.

How does this reduce the price of smartphone?

I was thinking of getting one, but luckily went Motorola-Lenovo, and never had a problem. I used to use Samsung, but boycott them now over Site C.

AdanZamuh Their phones were lousy anyway.

It's like nobody remembers Blackberry

Due to bad marketing LG compelled to close its smartphone brand besides Samsung who with only fine marketing leads If we compare both LG phones are much much better

Was never fond of LG smartphones. Full of bloated apps, comic software design full of inconsistencies. G2 was my last LG.

Pity it's not huawei

They can thank jackass Joe Bidem for that!

wait---Blackberry is still around?

They gathered enough data now?

ogwang256 Told you this a few

Still remember my first smart cell phone is LG.

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 ✅

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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. Check this documentary on what happened to LG 👇 End of the road for LG phones|Catch up series on the history of LG phones That's too bad! Their phones were dope! 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 🤷‍♂️👌👍
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 »