LG has stopped making smartphones. Defensively.
Earlier, you could see a report on our website about the planned departure of LG from the smartphone market. Yesterday, according to the Korean website Asiae.co.kr, LG stopped producing smartphones for good. It is thus significantly closer to its earlier statement that it will leave this segment by the end of July this year.
LG has stopped making smartphones
No wonder LG is ending its mobile division, as the financial results have been unsatisfactory in the long run and the company’s market share continued to decline. In order to minimize losses as much as possible, the South Korean company will certainly try to sell as many stocks as possible. By the end of the year, we can most likely expect discounts on phones of this brand.
There is no need to worry that the South Korean giant of smartphone owners from its own workshop would not notice, on the contrary. The company has promised length software support three years for premium models and 2 years for middle class models since their release. This means, for example, the last flagship LG Velvet will be supported until 2023. Telephone service will then be provided for a period of time four years from the date of manufacture.
You may have wondered what will happen to the employees who worked in the mobile division. According to the information of the already mentioned Korean website, they should be employees moved to another position. The smartphone factory will be transformed into a home appliance production line.
What do you think is behind the failure of LG phones?
Source: Asiae.co.kr
